Hyperdrive
Tesla China Shipments Plunge to Lowest in More Than a Year
Tesla Inc. vehicles at a port in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Tesla Inc. shipments from its factory in Shanghai slumped to the lowest in more than a year amid a Lunar New Year holiday sales lull and renewed price competition in the world’s biggest electric-vehicle market.
The US automaker shipped 60,365 vehicles from its China factory in February, according to preliminary data released Monday by China’s Passenger Car Association, the lowest since December 2022 and down almost 16% month-on-month. Year-on-year, it was a wider 19% decrease.