Tesla (TSLA) reaches 88,869 Chinese deliveries in March

Electric vehicle giant, Tesla Inc. (NASDAQ: TSLA) sold 88,869 units of China-made electric vehicles in March, according to data published by the China Passenger Car Association (CPCA) showed on Tuesday. That was up 35.0% from a year ago and 19.4% from February, when the U.S. electric car maker delivered 74,402 China-made Model 3 and Model Y electric cars.

Globally, Tesla posted record quarterly vehicle deliveries in the January to March period, but quarter-on-quarter sales growth was modest despite price cuts as rising competition and a bleak economic outlook weighed on segment.

Tesla's retail sales in China are poised to show the best quarter in the first three months, totaling 122,801 units as of March 26 and accounting for 13% in China's new energy car sales, which includes both pure electric and plug-in hybrid cars.

It should be noted that Tesla’s March 2023 results also represent the second-highest China-made vehicle sales ever for the company, just behind the 100,291 units that were sold in November of last year.

Shares of TSLA are up 0.97% in pre-market trading on Tuesday.

By Michael Elkins | [email protected]

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