Tesla China Shipments Plunge to Lowest in More Than a Year

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Sales of new-energy vehicles, which includes pure battery EVs and plug-in hybrids, fell 9% last month against February 2023 to 450,000 units

(Bloomberg) — Tesla Inc. shipments from its factory in Shanghai fell to their 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 U.S. 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 figure since December 2022 and down almost 16% month-on-month. Year-on-year it was a wider 19% decrease.