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Business Maverick: Tesla China Exports Slump to Just 60 Cars on Strong Local Demand

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Tesla Inc. exported just 60 cars produced at its Shanghai factory in March, a record low as strong domestic demand sucked up most of the output, according to China Passenger Car Association data released on Monday.

The U.S.-based maker of EVs shipped a total of 65,814 cars from its factory in China’s financial hub last month, with the bulk of those — 65,754 — going to the domestic market.

Overall passenger vehicle sales in China slid 10.9% year-on-year in March to 1.61 million units, the PCA data show. Month-on-month, sales rose 25.3%. New-energy vehicle deliveries in China jumped 137.6% year-on-year to 445,000 units.

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