Tesla’s sales of China-made vehicles dropped by 11.5% in March, with 78,828 cars sold, according to the China Passenger Car Association (CPCA). However, this marked a 157% increase compared to February.

Local competitors like BYD and Geely outperformed Tesla in growth. BYD’s sales rose by 23%, selling 371,419 new energy vehicles, while Geely saw a 167% increase, reaching 119,696 vehicles.

In response, Tesla updated its Model Y in January but still faces challenges, including a 3.04% drop in stock price, marking its worst quarterly performance since 2022.

Additionally, US-China trade tensions and potential supply chain impacts from tariffs imposed during Donald Trump’s presidency remain concerns for Tesla.

Elon Musk’s involvement with government initiatives has also drawn scrutiny, possibly affecting Tesla’s stock.

Recent Tesla developments