The China Passenger Car Association released its most recent data, which showed that EV manufacturer Tesla (NASDAQ:TSLA) sold 74,402 China-made vehicles in February. This equates to a 32% increase on a year-over-year basis and a 12.6% increase month-over-month.
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Nevertheless, Chinese sales appear to be slower than the pace seen during the fourth quarter. Tesla announced price cuts in January to increase demand, but it seems like the initial boost is waning.
Overall, Wall Street analysts have a Moderate Buy consensus rating on TSLA stock based on 22 Buys, eight Holds, and three Sells assigned in the past three months, as indicated by the graphic above.