In March, Tesla (NASDAQ:TSLA) saw a slight increase in its sales of China-made electric vehicles, with a total of 89,064 units sold, marking a 0.2% rise from the previous year, according to data from the China Passenger Car Association (CPCA).
Compared to February, the EV giant saw a 47.5% surge in deliveries of its China-made Model 3 and Model Y vehicles.
TSLA stock fell 1.6% in premarket trading.
Meanwhile, BYD, Tesla's Chinese competitor, experienced a significant sales boost, selling 302,459 vehicles from its Dynasty and Ocean series of EVs and plug-in hybrids. This represents a 46% increase year-over-year and ranks as BYD's second-highest monthly sales figure following December.
The trio of U.S.-listed Chinese car manufacturers — Li Auto (NASDAQ:LI), Nio (NYSE:NIO)., and Xpeng (NYSE:XPEV). — also enjoyed increased deliveries in March, with growth rates ranging from 14% to 39%.
Analysts have estimated Tesla's total vehicle deliveries for the first quarter at 449,080 units.
Although this number suggests a decline of over 7% from the record high in the fourth quarter — traditionally the peak sales period — it would once again position Tesla ahead of BYD in the competitive EV market.