Tesla Flailing in China in the Wake of BYD's Rapid Rise

Among market shares of the top 12 automakers in China by sales for any type of car, Tesla, at No. 11, is well under 5%

- Bloomberg

It's almost unthinkable, but Tesla Inc., the company that comes to mind when most people think about electric vehicles, may have had its best days in China, the world's biggest and most advanced EV market.

Elon Musk's automaker has been backsliding in China for the past five consecutive months on a year-on-year basis, according to data from the country's Passenger Car Association. Tesla's shipments plunged 49% in February from a year earlier to just 30,688 vehicles, the lowest monthly figure since way back in July 2022, when it shipped just 28,217 EVs—and that was in the middle of Covid.