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    TSLA   US88160R1014

TESLA, INC.

(TSLA)
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Tesla : sold 32,968 China-made vehicles in July, local sales plunged m/m

08/10/2021 | 04:20am EST
FILE PHOTO: A Tesla car pictured at a charging point in Beijing

BEIJING, Aug 10 (Reuters) - U.S. electric vehicle maker Tesla Inc sold 32,968 China-made vehicles in July, including 24,347 for export, the China Passenger Car Association (CPCA) said on Tuesday.

Local sales of China-made vehicles plunged 69% to 8,621 cars from 28,138 in June. Tesla's sales in the first month of each quarter are usually lower than the following two months.

The company, which makes Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 33,155 China-made vehicles in June.

Last month, Tesla introduced a cheaper version of the Model Y in China, where it faces increased scrutiny from both regulators and the public and growing competition from local rivals. It also lowered the starting price for Model 3 sedans.

China's BYD sold 50,387 electric vehicles last month, while General Motors Co's China joint venture with SAIC Motor delivered 27,347 units.

CPCA also said China sold 1.52 million passenger cars in July, down 6.4% from a year earlier. (Reporting by Yilei Sun and Brenda Goh Editing by Louise Heavens and Mark Potter)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SAIC MOTOR CORPORATION LIMITED 0.86% 19.99 End-of-day quote.-3.10%
TESLA, INC. 1.75% 1049.61 Delayed Quote.-0.68%
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Financials (USD)
Sales 2021 52 447 M - -
Net income 2021 5 255 M - -
Net cash 2021 10 063 M - -
P/E ratio 2021 227x
Yield 2021 -
Capitalization 1 056 B 1 056 B -
EV / Sales 2021 19,9x
EV / Sales 2022 13,8x
Nbr of Employees 70 757
Free-Float 80,1%
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Mean consensus OUTPERFORM
Number of Analysts 35
Last Close Price 1 049,61 $
Average target price 941,22 $
Spread / Average Target -10,3%
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Managers and Directors
Elon Reeve Musk Technoking of Tesla
Zachary J. Kirkhorn Master of Coin
Robyn M. Denholm Chairman
Ira M. Ehrenpreis Independent Director
James Rupert Murdoch Independent Director
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ARRIVAL-9.70%4 406