Tesla's China-made vehicle sales in March were essentially flat compared to the same month last year.
Tesla (NASDAQ: TSLA) saw a significant rebound in China-made vehicles sold last month from the month before, as the effects of the Chinese New Year holiday subsided.
The US electric vehicle maker sold 89,064 China-made cars in March, according to data released today by the China Passenger Car Association (CPCA).
The monthly sales, which include exports from China to overseas markets, were essentially flat from 88,869 in the same month a year ago and up 47.54 percent from 60,365 in February.
In the January-March period, Tesla sold 220,876 China-made vehicles, down 3.68 percent from 229,322 in the same period last year, data compiled by CnEVPost showed.
Tesla has a factory in Shanghai that now has an annual capacity of more than 950,000 vehicles, its largest in the world.
The plant produces the Model 3 sedan and Model Y crossover and not only delivers to local consumers, but is also an export hub for Tesla. A breakdown of local deliveries and exports is not available at this time.
Tesla's pattern is to produce cars for export in the first half of the quarter and for the local market in the second half, the company has previously said.
February 10-17 was the 2024 Chinese New Year holiday, which created disruptions to the carmakers' production.
Notably, Bloomberg reported on March 22 that Tesla had reduced EV production at its China factory due to sluggish new energy vehicle (NEV) sales growth and fierce competition in the market.
Tesla instructed employees at its Shanghai factory earlier in March to reduce production of the Model Y and Model 3 by working five days a week instead of the usual 6.5 days, according to the report.
On April 1, Tesla hiked the prices of all three variants of the Model Y by RMB 5,000 ($690) in China, in contrast to the price cuts made by other EV makers in the price war.
The move seems to be aimed at boosting orders from customers on the sidelines, as it had indirectly teased the price hike 10 days ago.
($1 = RMB 7.2358)
Tesla cuts car production in China amid slower EV sales growth, report says
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