Tesla’s shipments plunged 49% in February from a year earlier to just 30,688 vehicles, the lowest monthly figure since way back in July 2022. Tesla’s factory on the outskirts of Shanghai has had some of its production lines retooled for efficiency and to relaunch the popular Model Y. The chart above shows the market shares of the top 12 automakers in China by sales for any type of car — electric, hybrid or otherwise. Tesla, at No. 11, is well under 5%. Indeed, most carmakers’ trend lines are sloping down, not up, especially the international ones. BYD Co. has a market share heading toward 15%. It sold more than 318,000 fully electric and hybrid passenger vehicles last month, up 161% year-on-year. The Shenzhen-based carmaker also notched another record month for overseas sales, which hit 67,025 units. By 2030, analysts at the investment bank project by 2030, that will fall to around 6% to 7%. Another chart shows how BYD has muscled into Tesla’s sweet spot. Both the Model Y and Model 3, the two vehicles Tesla makes in Shanghai, have only had their prices trimmed, rather than slashed, and buying one still costs around $33,500 on average. The most expensive Song Plus EV retails for around $21,000 — much cheaper than a Tesla. Another of BYD’s popular models, the Seagull, which has found around 82,435 buyers this year, comes in at an even more affordable $9,900.