Tesla’s (TSLA) hold on China has been sliding for the past five consecutive months, with shipments plunging 49% in February from a year earlier, Bloomberg reports. The market shares of Tesla in China are well under 5% while BYD’s (BYDDF) market shares are heading toward 15%. BYD sold more than 318,000 vehicles last month, which is up 161% year-over-year. Signs show BYD has begun to wedge itself into Tesla’s spot in the market.
Claim 30% Off TipRanks
New trading tool for TSLA bearsPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TSLA:
- NVIDIA GTC 2025: AI Breakthroughs, Quantum Leap, and Big Market Moves
- S&P 500 Faces One of Its Worst Slumps in History – Is Trump’s Trade Policy to Blame?
- Chinese Investors Quietly Pour Millions into Elon Musk’s Companies
- Tesla’s Tumultuous Week: Stock Plunge Amidst Controversies
- Elon Musk Is Set to Be Questioned about His Twitter Purchase in an Investor Lawsuit