Tesla Inc. reported a significant decline in its China wholesale numbers for February.

Shipments fell 49% year-on-year to 30,688 units, according to preliminary data from the China Passenger Car Association (PCA).

This represents a sharp decrease from January, when Tesla shipped 63,238 vehicles from its Shanghai plant.

In contrast, BYD Co., Tesla’s key competitor in the Chinese market, achieved strong growth during the same period.

The company sold over 318,000 electric and hybrid passenger vehicles in February, marking a 161% year-on-year increase. This reflects BYD’s solid position in China’s electric vehicle market.

Recent Tesla developments