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Tesla Sells One-Third Of All Electric Vehicles In China, Defies Coronavirus

Tesla Inc. (NASDAQ:TSLA) delivered one-third of all electric vehicles in China last month, signaling that the carmaker has, so far, managed to weather the coronavirus outbreak that’s paralyzed much of the country.

The company announced that it has delivered 3,958 cars in February -- or about 30% of all electric vehicles in the country -- said the China Passenger Car Association in an online briefing.

Comparative Tesla figures weren’t immediately available as the association doesn’t usually break out the company’s sales in its monthly briefings. And it’s unclear how many of those vehicles were sold to customers because the figures represent wholesale deliveries to dealerships.

Still, Tesla’s performance came during a month when Chinese auto sales tumbled 80% as the coronavirus kept consumers away from showrooms. Investors will get a better sense of Tesla’s sales in China later this month when registration figures come out.

In January, Tesla registrations plunged 46% from December to 3,563 units, according to state-backed China Automotive Information Net, which gathers industry data based on insurance purchases.