Tesla’s China-made electric vehicles continue to gain momentum in the country, as the company sold 88,869 units in March, according to data from the China Passenger Car Association. The figure represents a 35% increase from last year’s sales and a 19.4% increase from February.
The majority of Tesla’s China-made sales in March were Model 3 and Model Y electric cars, which saw a strong surge in demand from both domestic sales and exports.
In comparison, Chinese automaker BYD sold 206,089 units last month with its Dynasty and Ocean series of EVs and hybrids, up 97.5% from a year ago, according to CPCA data.
Despite the impressive growth in sales, Tesla faced a challenging quarter globally due to rising competition and a bleak economic outlook. The company, however, posted record quarterly vehicle deliveries in the January to March period. Quarter-on-quarter sales growth was modest despite price cuts.
In China, Tesla’s retail sales are expected to show the best quarter in the first three months, according to data from China Merchants Bank International.
As of March 26, Tesla’s China-made EVs totalled 122,801 units, accounting for 13% in China’s new energy car sales, which includes both pure electric and plug-in hybrid cars.
BYD took up 41% of the new energy car segment, according to CMBI data. Despite the competition, Tesla’s impressive growth in China reflects the company’s increasing popularity in the world’s largest EV market.
