The US electric vehicle maker Tesla revealed the monthly sales figures for one of its largest markets – China
sold 32,968 China-made vehicles in July, including 24,347 for export, according
to the China Passenger Car Association’s latest report. The figures for the
export cars marked a new record. Still, the local sales of China-made vehicles
plunged 69% to 8,621 cars from 28,138 reported in June.
Last month, Tesla introduced a cheaper version of the Model
Y in China. In this territory, it faces increased scrutiny from regulators and
the public and competition from local rivals.
Moreover, the Chinese government ordered almost all the cars
Tesla has sold in China in June – more than 285,000 - that are being recalled
to address a software glitch. The autopilot system allegedly could be activated
Despite the recent setbacks, analysts predicted that Tesla
stock price would surge 22% in the next twelve months.
more about how Tesla’s Chinese competitors have performed in July.
Sources: reuters.com, thestreet.com
This information prepared by ClickTrades.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.
This information is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of ClickTrades.com.
Promising monthly EV deliveries from the Chinese companies
Baidu earnings beat expectations