Tesla China hit another record in September!
with the company selling over 83.000 units over the month. The data was released by the China Passenger Car Association (CPCA).
Tweet on Tesla record delivery
@Tesla stock slipped on Monday, after quarterly vehicle deliveries fell about 7% short of forecasts..
The EV maker delivered a record 343,830 vehicles to customers in the three months to September.
Analysts polled by FactSet had expected Tesla to deliver about 370K vehicles. pic.twitter.com/izUkbzyQ96
— The_Journalbiz (@the_journalbiz) October 10, 2022
Tesla record delivery, but stocks falls 0.7%
Prior to September, Tesla China’s best-selling month was in June, when the electric vehicle maker posted wholesale units of 78,906 vehicles. With its 83,135 vehicles sold in September
Tesla China’s wholesale figures saw an increase of 48.44% year over year and an 8.02% increase month over month. For context, Tesla sold 78,906 cars from China in June. The company sold 76,965 vehicles in August 2022.
Considering that Gigafactory Shanghai’s production lines were upgraded in the third quarter, the remaining months of the fourth quarter would likely see Tesla China posting strong wholesale figures consistently.
Previous reports have pointed to Giga Shanghai potentially producing about 266,500 cars in Q4 2022, which would be pivotal to Tesla’s goal of achieving 50% sales growth this year.
Reports from China have indicated that Tesla is putting in some serious effort to push its vehicle sales this fourth quarter.
On October 1, the company announced several purchase benefits on local social media platform Weibo.
These incentives include insurance subsidies, a 0% down payment financing lease, and preferential loan rates. Such programs could very well maker vehicles like the Model Y even more prolific in China.