Tesla in China with more sales – shares with leaps of joy
Tesla Gigafactory in Shanghai. (Photo: dpa)
Contrary to what was initially feared, Tesla was able to deliver significantly more electric cars in May than in April. Investors reacted with relief and sent Tesla shares up.
A report from the USA, according to which orders for Tesla’s electric cars in China are said to have collapsed by half, caused the share to collapse a few days ago. Now there are fresh figures on sales of the Model 3 and Model Y manufactured in the Gigafactory Shanghai – and they show a clear plus compared to the weaker April.
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China factory: Tesla increases domestic sales
In May, 33,463 Tesla Model 3 and Model Y were delivered to the China Passenger Car Association (CPCA) from the Gigafactory in China. In February there were only 25,845, after around 35,500 vehicles in the record month of March. Interestingly, sales within China in particular increased. Surprisingly, the first drastic decline occurred here in April.
Tesla #China wholesale at 33,463.
Retail: 21.936
Exports: 11,527
(CPCA) pic.twitter.com/M2I5RPc5iE– Moneyball (@DKurac) June 8, 2021
For the weak sales figures in April, observers blamed the manufacturer’s problems with the Chinese authorities and the political tensions between the USA and China. In addition, Tesla in China has been grappling with complaints about the quality of its vehicles. At the largest auto show in Shanghai, the largest automobile fair in the country, customers protested against these deficiencies, some of which were publicly effective.
No wonder, then, that investors breathe a sigh of relief in view of the good May sales. After the numbers became known, Tesla shares jumped three percent before the market. In the course of Tuesday, however, the paper lost its profits and continues to hover slightly above the $ 600 mark.
E-car sales: are there any further declines?
Perhaps the joy could also have been mixed with concern that the above-mentioned report might not be completely wrong after all. After all, it was about new orders. Their slump is unlikely to affect sales figures until the coming weeks and months. But how Fred Lambert from Electrek noticed, against the background of strongly fluctuating delivery and sales figures, one should look at the quarterly results rather than the monthly results.
