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Tesla bucked the trend by delivering China’s one-third EVs in Feb, performance metrics exceed its peers
CKN
2020/03/10 05:20:19
3,092

Mar 10, 2020 (China Knowledge) - Secretary General of China Passenger Car Association Cui Dongshu said yesterday that Tesla had delivered 3,958 electric vehicles (EVs) for the Chinese market last month, accounting for about 30% of China's total EV sales is a "pretty good performance."

This also means Tesla's EVs delivery for Feb was not much affected by the outbreak of the coronavirus COVID-19 that resulted in compulsory homestay quarantine. According to the data from the association, the wholesales turnover volume of new EVs in Feb reached 11,000 units, and significantly down 77.7% YoY and 70% MoM. The cumulative sales volume from Jan to Feb this year recorded only 52,000 units, down 64% YoY.

Besides Tesla able to buck the trend in terms of delivery, its EV’s production capacity outperformed other peers. Last month the production of new EVs in China’s domestic market reached 11,900 units, down 77.4% YoY. Of these figures the production at Tesla's Shanghai factory reached 3,898 units, accounting for more than 30% of the total. Its production surpassed local big EV manufacturer BYD (002594), ranking itself first in China.

Tesla's competitiveness has created challenges to China’s own brand of EV manufacturers. These Chinese companies saw their sales fell in Feb across the board, with BYD sold  2,803 EV models, down 80.6% YoY, while Beijing Automotive Industry Corp (BAIC) only sold 1,002 units, down 65% YoY.

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