Tesla (NASDAQ:TSLA) shares traded at $412.46 down 2.25% intraday. The move follows data from the China Passenger Car Association (CPCA) showing Tesla extending its year-on-year growth streak despite seasonal softness in January volumes.
Tesla shipped 69,129 China-made vehicles in January, up 9% from a year earlier, marking a third consecutive month of annual growth. BYD (BYDDY), by contrast, reported a more pronounced January slowdown.
The result stands out in a cooling Chinese EV market, where January demand typically softens and competition has intensified. Tesla’s Shanghai factory continues to play a central role in supplying both domestic buyers and export markets, helping cushion demand volatility at home.
While China’s EV sector faces pricing pressure and uneven policy support, Tesla’s ability to sustain year-on-year shipment growth underscores the importance of Shanghai as a global production hub.
Tesla is also awaiting regulatory approval for its Full Self-Driving software in Europe and China, which could arrive as early as this month.