Tesla Faces Slump in China EV Sales as BYD Soars

Tesla experienced a significant decline in sales of its China-made electric vehicles in February, according to data from the China Passenger Car Association. Sales fell by 49.2% compared to the previous year. Meanwhile, Chinese competitor BYD saw a robust increase, with a 161.4% rise in passenger vehicle sales.

Tesla, the U.S. electric vehicle giant, saw a steep decline in its China-made car sales in February. According to the China Passenger Car Association, sales plummeted by 49.2% year-over-year.

The drop was more pronounced in deliveries of the Model 3 and Model Y vehicles, which plummeted by 51.5% from the previous month.

In stark contrast, Chinese competitor BYD reported an impressive 161.4% increase in passenger vehicle sales, signaling robust market activity for its Dynasty and Ocean series of electric and plug-in hybrid vehicles.

(With inputs from agencies.)