Tesla to deliver strong Q1 retail sales in China

Tesla is poised to report one of its best quarters in China, the latest retail sales data showed, after becoming the first electric vehicle maker in the country to cut prices in a bid to defend its market share.
The U.S. EV maker's retail sales in China totaled 106,915 units from Jan. 1 to March 19, or 1,371 units per day on average,  which tracks car insurance registrations.

Tesla's growth pace, however, is yet to catch up with BYD , which outsold Tesla by more than five times in the January-February period, with its wide range of offerings of electrified products in China.
The company is planning refreshed versions of Model 3 and Model Y in the next two years to tackle an ageing product mix that has hit its attractiveness to customers.
Tesla's sales in the first two months accounted for 7.9% in China's fragmented sector of new energy cars including pure electric and plug-in hybrids, slightly up from 6.8% in the same period a year ago, according to Reuters calculations based on data from China Passenger Car Association.
Meanwhile, BYD extended its lead with a 41% market share, a big jump from 29% a year ago.