Tesla's China-made vehicle sales to hit 77K units in August, says CPCA official
Tesla's (NASDAQ:TSLA) China-made vehicle sales are expected to reach 77,000 units in August 2022, reported a local media outlet on Friday quoting an China Passenger Car Association (CPCA) official.
Cui Dongshu, secretary-general of CPCA, said that: "As Tesla's capacity utilization continues to rise, production is strong after the end of July, although it encountered brief pressure on parts supply."
The Securities Times report provided no further details. If the number is accurate, it would imply that Tesla's China-made vehicle sales in August grew 74% year-over-year and 173% from 28,217 in July 2022. It would also be the second-highest number of China-made vehicles in Tesla's history.
The actual figures are expected to be announced by the CPCA later this month.
Lately, multiple media reports stated that the automaker upgraded its production line at Giga Shanghai between late July and early August. Once the upgrade is complete, Tesla (TSLA) will expand its annual capacity to around 1.1M-1.2M units.
The company's latest financial report showed that Giga Shanghai now has an annual capacity of over 750K vehicles.
TSLA shares have gained marginally pre-market
Elsewhere, Tesla (TSLA) appears to be ramping up interest in manufacturing in Canada