Tesla saw a further decline in China-made vehicles sold last month, likely due to the impact of the Chinese New Year holiday on production at its Shanghai plant.
Tesla (NASDAQ: TSLA) saw a further decline in China-made vehicles sold last month, possibly due to the impact of the Chinese New Year holiday on output at its Shanghai plant.
The US electric vehicle (EV) maker sold 60,365 China-made vehicles in February, according to data released today by the China Passenger Car Association (CPCA).
The monthly sales, which include exports from China to overseas markets, were down 18.87 percent from 74,402 a year ago and down 15.51 percent from 71,447 in January.
Tesla has a factory in Shanghai that now has an annual production capacity of more than 950,000 vehicles, its largest in the world.
The factory produces the Model 3 sedan and Model Y crossover and not only delivers to local consumers, but is also an export hub for Tesla. A breakdown of local deliveries and exports is not available at this time.
Tesla's pattern is to produce cars for export in the first half of the quarter and for the local market in the second half, the company has previously said.
February's sales were the second consecutive month of month-on-month declines, likely due largely to the impact of the Chinese New Year holiday.
February 10-17 was the 2024 Chinese New Year holiday. Last year's New Year holiday was January 21-27, 2023.
China's major EV makers generally saw sales decline in February.
BYD (HKG: 1211, OTCMKTS: BYDDY) sold 122,311 NEVs in February, down 36.84 percent year-on-year and down 39.30 percent from January.
Nio (NYSE: NIO) delivered 8,132 vehicles in February, down 33.11 percent year-on-year and down 19.12 percent from January.
Xpeng (NYSE: XPEV) delivered 4,545 vehicles in February, a decrease of 24.38 percent year-on-year and down 44.91 percent from January.
Li Auto delivered 20,251 vehicles in February, up 21.85 percent year-on-year but down 35 percent from January.
In January, Tesla sold 71,447 China-made vehicles, up 8.17 percent from a year earlier but down 24.10 percent from 94,139 in December.
January sales included 39,881 vehicles sold in China and 31,566 exported from the Shanghai factory, according to the CPCA.
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