Tesla's vehicle deliveries from its China factory in the first quarter decreased by 22% compared to the previous year, marking its weakest performance in three years.
Hong Kong's South China Morning Post (SCMP) reported on the 3rd, citing data from the China Passenger Car Association (CPCA), that Tesla's deliveries from the 'Shanghai Gigafactory 3' in the first quarter totaled 172,754 units, down 22% from 220,876 units in the first quarter of last year.
This is the weakest performance since the second quarter of 2022, when deliveries were 122,100 units. The delivery figures include both mainland China sales and exports.
Since last year, Chinese local companies such as Xiaopeng and Xiaomi have strengthened advanced driver-assistance features and launched new cars at relatively lower prices, causing Tesla's market share to decline.
BYD, the world's largest electric vehicle manufacturer, delivered 416,388 electric vehicles in the first quarter, a 39% increase compared to the same period last year. BYD's first-quarter hybrid electric vehicle (HEV) sales also surged 76% to 569,710 units.
However, Tesla's deliveries from its China factory in March reached 78,828 units, a 157% increase compared to the same period last year. SCMP analyzed that this was due to increased production of the partially redesigned Model Y. However, compared to February's deliveries of 89,064 units, this represents an 11.5% decrease.
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