Tesla (NASDAQ: TSLA) continued to do well in China in March and sold 88,869 units of China-made electric vehicles (EV) for both domestic sales and exports, up 35% year-over-year, according to data from the China Passenger Car Association (CPCA). This vehicle delivery number increased by 19.4% month-over-month.
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In contrast, the Warren Buffett– backed BYD sold 206,089 units in March, soaring by 97.5% year-over-year.
A Reuters report cited data from China Merchants Bank International (CMBI) that indicated that Tesla could have a best-ever quarter in China as its retail sales totaled 122,801 units as of March 26 and made up 13% of China’s new energy car sales, which includes both pure electric and plug-in hybrid cars.
Even in the U.S., the EV major reported record Q1 deliveries.
Analysts are cautiously optimistic about TSLA stock with a Moderate Buy consensus rating based on 20 Buys, 10 Holds, and three Sells.