Tesla's global sales have witnessed a notable decline, with February's sales in China plummeting 49% year-on-year, marking a two-and-a-half-year low. This downturn can be primarily attributed to the decreased production of older models and the intensifying competition from local brands. Furthermore, Tesla's sales in both the US and European markets are also on the decline, contributing to a significant drop in its share price. Despite maintaining the top spot in global pure electric vehicle sales in 2024, Tesla's lead over BYD is gradually shrinking.
