Friday, January 21, 2022

Tesla China sales fall for second Month in a row, Tesla Stock down 1.3% pre market

Tesla China sold 52,859 electric vehicles to dealers in China, a rise of 144.7% on a year-on-year basis. This is based on data from the national automotive agency.

While the numbers look great YoY the latest numbers also indicate Tesla’s wholesale volumes declined 2.8% in November on a month-over-month basis.

November sales include 21,127 export units, implying it sold 31,732 electric vehicles in China, as per the CPCA data. Tesla shipped out 40,066 electric vehicles in October.

China’s overall new energy wholesale volumes for passenger vehicles rose 148.1% to 429,000 vehicles on a year-on-year basis and up 131.7% on a year-on-year basis and 18% from October. The bulk of those wholesale volumes were battery electric vehicles at 343,000 units. 

Tesla Analyst Gary Black presents the numbers as follows:

Tesla has been making the Model 3 electric sedan and the Model Y sport-utility vehicles at its Shanghai gigafactory.

Tesla’s Stock dropped 1.3% in pre market Trading after the announcement of the Chinese Sales.

Tesla Stock down 1.3% in pre market trading
See also  China's regulator about to tighten the usage and collection of data by car companies such as Tesla & Nio
Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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