Tesla Faces Sharp Decline in China Sales as Competition Intensifies
February sales of Tesla's China-made vehicles dropped nearly 50% year-over-year, highlighting challenges from local rivals and global market pressures.
- Tesla sold 30,688 China-made electric vehicles in February, marking a 49.2% year-over-year decline and its lowest monthly total since August 2022.
- Chinese competitor BYD saw a 161.4% increase in February sales to 318,233 units, underscoring Tesla's struggles in the world's largest EV market.
- Global sales of Tesla's China-made vehicles for January and February totaled 93,926 units, down 28.7% from the same period last year.
- Tesla's stock has dropped over 33% in 2025, driven by falling sales in China and Europe, tariff concerns, and CEO Elon Musk's controversial political affiliations.
- Bank of America cut Tesla's price target from $490 to $380, citing slowing growth, competitive pressures, and uncertainty around new product launches.
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