Tesla sells 28,217 China-made vehicles in July, down ~64% sequentially

Aug. 09, 2022 5:43 AM ETTesla, Inc. (TSLA)LI, BYDDF, NIO, XPEVBy: Niloofer Shaikh, SA News Editor159 Comments

Tesla motors showroom with cars and illuminated logo branding at dusk London UK

AdrianHancu/iStock Editorial via Getty Images

  • Tesla (NASDAQ:TSLA) sold 28,217 China-made vehicles in July, down 14.41% Y/Y and 64.24% M/M from 78,906 units in June.
  • The company sold nearly two-thirds less than a month earlier as a scheduled upgrade to its factory lines in Shanghai disrupted production.
  • The automaker exported 19,756 vehicles in July vs. 968 in June and 22,340 units during May.
  • Local deliveries slid to 8,461 vehicles vs. 77,938 in June.
  • The company's China cumulative wholesale sales were 322,974 units, up 65.87% from 194,711 in the same period last year.
  • In July, wholesale sales of new energy passenger vehicles in China were 564,000 units, up 123.7% Y/Y and down 1.1% M/M, according to the CPCA.
  • Retail sales of new energy passenger vehicles in July were 486,000 units, up 117.3% Y/Y and down 8.5% M/M.
  • China's overall passenger car sales in July jumped 20.1% from a year earlier to 1.84M, the CPCA said.
  • The association now expects electric car sales for the whole year could reach 6M units, higher than an earlier estimate of 5.5M.
  • A quick look at Tesla's monthly sales in China:
  • BYD (OTCPK:BYDDF) delivered 163,042 cars in July, with plug-in hybrids accounting for more than half of its sales.
  • Peer Li Auto (LI) delivered 10,422 Li ONEs in July 2022, +21% Y/Y, XPEV (XPEV) delivered 11,524 Smart EVs in July 2022, +43% Y/Y and NIO (NIO) delivered 10,052 vehicles in July 2022, +26.7% Y/Y.
  • Shares up 1.11% PM.
  • Also Read: The electric vehicle sector is buzzing after Senate bill resets tax credit rules
  • Read the most recent analysis on the stock here.
  • TSLA gets a Buy rating from Wall Street Analysts, in contrast to Hold rating from SA Quant Rating system.

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