Tesla’s retail sales in China have experienced a significant decline, with a 16% drop in the first quarter of 2026. Despite this, the company’s wholesale figures have shown an increase, with a notable surge in exports.
Q1 Sales Performance
- Total retail sales in China: 112,798 units, down 16.2% compared to the same period last year (134,607 units)
- Retail sales in March: 56,107 units, a 24.3% drop from the previous year (74,127 units)
- Wholesale figures from China’s Gigafactory Shanghai: 213,398 units, with over 100,000 vehicles exported worldwide
Export Performance
- March exports: 29,563 vehicles, a 529% increase from the same period last year (4,701 units)
First Quarter Deliveries
- Total deliveries: over 358,000 units, missing market expectations
- Total production: close to 408,000 units, resulting in a surplus of over 50,000 unsold vehicles
New Model Developments
Tesla is reportedly developing a new, affordable vehicle model, which may be a compact EV or a Cybercab with a steering wheel and pedals, according to investor Ross Gerber.
Market Performance
- TSLA stock price: $344.94, up 0.49% in pre-market trading
- Benzinga Edge Rankings: Tesla offers satisfactory growth but lacks a favorable price trend in the short, medium, and long term.
Conclusion
Tesla’s Q1 performance in China has been mixed, with declining retail sales but increasing wholesale and export numbers. The company’s plans for new models and its overall market performance will be closely watched in the coming months.