Tesla’s registrations of its electric cars in China jumped to 34,635 in March from 18,155 in February, according to Benzinga. The registrations in March were almost a triple from the number a year earlier when sales were impacted by the coronavirus lockdowns in China.
The March deliveries were a jump from February when sales were slowed down by the week-long Lunar New Year holidays.
In the first quarter, Tesla delivered 184,800 vehicles, reflecting a strong reception of the Model Y in China.
The U.S remains Tesla’s largest market and accounted for 48.2% of the company’s revenues last year, while China made up for 21.1% of the total sales
Tesla CEO Elon Musk has predicted that in the long term, China will be the automaker’s largest market
Tesla has been working to expand Gigafactory Shanghai to mass-produce the Model Y for sale in China and export to neighboring countries such as Australia and parts of Europe.
The electric carmaker faces competition in the Chinese EV market with local rivals that include Xpeng Inc., Nio Inc., and Li Auto Inc.
Tesla stock is currently declining. TSLA: NASDAQ is down 1.75% on premarket
