Tesla saw sales of its China-made electric vehicles climb for the fourth consecutive month in February, as a low comparison base from the previous year helped offset typical seasonal slowdowns.
The company’s Shanghai facility delivered a total of 58,600 Model 3 and Model Y units last month—including vehicles shipped to markets like Europe. That marks a sharp 91% jump compared to the same month last year, following a 9.3% rise in January, according to Tesla China. However, on a month-to-month basis, deliveries slipped 15.2% from January.
Export figures also painted a bright picture. Data from the China Association of Automobile Manufacturers showed overseas shipments from Tesla’s Shanghai plant surged about five times year-on-year, reaching 20,000 vehicles in February.
The month’s results came despite a temporary halt to part of the production line as Tesla retooled for its updated Model Y during the Lunar New Year holiday. Early-year sales in China often swing significantly due to the shifting timing of the holiday period.
In a bid to maintain momentum, Tesla rolled out a seven-year low-interest financing package—a move that prompted rivals like BYD to respond with similar offers. The stepped-up competition comes as government subsidies in the world’s largest auto market are scaled back, adding pressure on automakers.
BYD, which posted its steepest monthly global sales drop since the pandemic in February—including a 65% slump in China—unveiled its first major battery upgrade in six years last week, looking to regain traction.
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