Tesla experienced a significant decline in its China-made electric vehicle sales in February, dropping 49.2% year-on-year to 30,688 units, influenced by increased competition from local rivals like BYD. Despite these challenges, Tesla has made updates to its models to enhance appeal, including improvements to autopilot functionality. In contrast, BYD has seen a remarkable sales increase of 90.4%, reflecting the ongoing price war in the burgeoning EV market. New, affordable smart EVs from competitors are exerting further pressure on Tesla's traditional dominance in the region, particularly for its Model Y.
Tesla's sales of its China-made electric vehicles dropped 49.2% in February to 30,688 cars, the lowest since August 2022, amid increasing competition from local manufacturers.
BYD's sales surged 90.4%, showcasing the intense competition in China's EV market, with rivals launching several affordable smart EV models.
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