Tesla’s performance in China showed signs of stabilisation in June. Retail sales rose 3.7% from a year earlier to about 61,000 vehicles, while wholesale deliveries from its Shanghai plant climbed 0.8% to 71,599 units, according to data from the China Passenger Car Association. The month-on-month rebound—59% and 16% respectively—ended an eight-month slide and marked the first year-on-year gain for the U.S. carmaker in its largest overseas market this year. The improvement was not enough to offset earlier weakness. Tesla delivered 191,720 vehicles in China during the second quarter, down 6.8% from a year earlier and its third consecutive quarterly decline. Meanwhile, main rival BYD sold 377,628 vehicles in June, an 11% increase, underscoring the intensifying competition in the world’s biggest electric-vehicle arena. Across the broader market, China’s passenger-vehicle sales grew 18.6% year on year to 2.11 million units in June, lifted by continued strength in new-energy models. Retail sales of battery-electric and plug-in hybrid cars reached 1.11 million, up nearly 30% and accounting for more than half of total passenger-vehicle demand. The latest figures suggest that while overall appetite for cars remains healthy, Tesla faces a more crowded and fast-growing field at home for Chinese brands.
中国6月乘用车零售量同比增长18%,至210万辆,6月新能源汽车(包括纯电动汽车和插电式混合动力车)零售量增长30%,达到110万辆。https://t.co/I67fTdOBCE
In this thread I discuss latest search interest trends in China for the highest revenue generating electric vehicles and discuss what it means for TSLA investor. Subscribers have access via this link: https://t.co/dgwY2RPTLx
$TSLA 🇨🇳 Tesla China sold 128,803 vehicles to the domestic market in the second quarter. The figure is down about 4.3% from the first quarter. https://t.co/m4nHw9w03n