Tesla Just Got Absolutely Horrible News About Its Sales in China

If "failure is the mother of success," as the old Chinese proverb goes, then Tesla is long overdue for some wins. Once thought to be something of a golden goose for Tesla thanks to ultra-friendly EV policies, Chinese drivers are now avoiding Teslas like the plague. In February, Tesla's sales in China dropped a whopping 49.2 percent compared to the previous year, contributing to a 28.7 percent sales plummet over the last 12 months. Though some have noted the slump corresponds with the Lunar New Year — typically a slow time for Chinese consumer sales — Tesla's Chinese competitor BYD notched a whopping 90.4 percent increase in sales over the same month. In short: it's not looking great for Tesla. The numbers are both yet another knock for Tesla's growing sales woes due to Elon Musk's political meddling, and an indication of the rabidly competitive corporate market in China — a commercial environment some argue is more truly capitalist than America's. One major factor: the sheer volume ... Read full article.