Tesla China Sales Surge 91% YoY in February as BYD Stumbles

📌 UPDATE — March 13, 2026

New market share data reveals Tesla claimed 3rd place in China's NEV segment for February 2026, capturing 8.2% of the NEV market — a significant position behind only BYD, which dominated with a 19.1% share. In the broader overall passenger car retail market, Geely led with 14.1%, while BYD ranked second at 8.6%, highlighting how Tesla's strength is concentrated specifically within the NEV segment rather than the total auto market.

Brand	NEV Market Share	Overall Passenger Car Share
BYD	19.1% 🥇	8.6% 🥈
Geely	—	14.1% 🥇
Tesla	8.2% 🥉	—

📌 UPDATE — March 12, 2026

Beyond the raw sales volume, Tesla's February performance in China has now been confirmed to represent its highest BEV market share since April 2024 — a nearly two-year high. This is particularly notable given that the broader Chinese EV market experienced weakness during the same period, meaning Tesla gained share against the tide rather than simply riding a rising market. The data reinforces that Tesla's February surge was a genuine competitive win, not just a seasonal rebound. Analysts will be watching whether Tesla can sustain this elevated market share position heading into the traditionally stronger Q2 months.

📊 Key Figures

🔭 The BASENOR Take

📰 Deep Dive

The 91% year-over-year headline is real — but context matters. February 2025 was an unusually weak baseline for Tesla China. The Shanghai factory was partially shut down for Model Y production upgrades during the Lunar New Year period, which compressed last year's numbers significantly. That base effect is doing a lot of the heavy lifting in this comparison. Still, 58,600 wholesale units in a shortened February is a genuinely solid result, and the fourth consecutive month of YoY growth signals that the refreshed Model Y (Juniper) is holding its momentum in the world's most competitive EV market.

The export story is arguably more significant than the domestic sales figure. Roughly 20,000 of those 58,600 units were shipped out of China — a fivefold increase year-over-year. That tells you two things: global demand for Shanghai-built Teslas is accelerating, and the Gigafactory is running at a throughput that comfortably supports both the domestic market and international orders simultaneously. For owners in Europe and Asia-Pacific, where Shanghai-built Model 3 and Model Y are common, this is a positive supply signal.

BYD's February decline — 41.1% overall, with BEVs specifically down 36% — deserves careful reading too. The Chinese New Year holiday window (February 15–23 this year) hit BYD harder than Tesla partly because of how each company structures its sales channel and inventory pipeline. BYD also faced a reduction in state EV purchase incentives that disproportionately affected its higher-volume, lower-margin PHEV lineup. Notably, BYD's exports held up extremely well at over 100,000 units, up 50% YoY — so the domestic softness isn't a sign of a company in crisis, just one navigating a seasonally difficult month.

For Tesla investors and owners watching the China story: the competitive dynamic in February looks favorable for Tesla, but a single month — especially one with a distorted base — shouldn't be read as a trend reversal. The March figures, which will reflect a full working month without holiday disruption on either side, will be far more telling about where the Shanghai-versus-Shenzhen rivalry actually stands in 2026.

David Hartley

Contributing Writer — Industry & Markets

David covers the EV industry, regulatory developments, and accessory ecosystem. 15+ years writing about consumer tech. Based in London.

Sources verified at publish time. Spotted an inaccuracy? Email editorial@basenor.com.