Tesla’s sales of EVs in April down 14.7% from March

Tesla delivered 75,842 China-made electric vehicles (EVs) in April, down 14.7 per cent from March, data from the China Passenger Car Association (CPCA) showed on Friday.

The figure was however a huge jump from a year earlier, when the city of Shanghai - where Tesla has a factory - was in COVID-19 lockdown. In April last year, the company delivered only 1,512 China-made Model 3 and Model Y cars in the world’s largest auto market.

Local rival BYD Co, with its Dynasty and Ocean series of EVs and hybrids, sold 209,467 vehicles in April, CPCA data showed, up 1.6% from March. CPCA is expected to release more detailed China car sales figures for April next week.

Tesla has cut prices in several markets globally and kickstarted a price war in China that since the start of the year has seen more than 40 local and international car brands join in.

The price cuts have lowered automakers’ earnings, with Tesla reporting a 24% plunge in first-quarter net income even though its quarterly global deliveries reached a fresh all-time high.

The EV giant has however this week moved in the opposite direction, raising prices by up to $290 on its two top-selling models - Model Y and Model 3 - in Canada, China, Japan and the United States on Monday. On Friday, it raised prices for its new Model S and Model X vehicles in China by 19,000 yuan ($2,751).