Tesla Inc. has reported a strong sales performance in the Chinese domestic market, with a record 12,300 weekly registrations. This milestone indicates significant momentum for Elon Musk’s electric vehicle (EV) giant.
Key Sales Figures
- 12,300 insured registrations for the week of July 7-13
- Highest second week of the quarter ever for Tesla in China
- 3Q is +92% QoQ and -3% YoY after two weeks
Market Context
The news follows a 75% plunge in sales in China during the first week of July, with only 5,010 insured registrations recorded. However, Tesla has reported a better-than-expected Q2 delivery performance, with 384,212 units sold in the second quarter of the year. The Model 3 and Model Y have been driving up sales for the company.
Global Electric Vehicle Sales
Electric vehicle sales have soared 24% in June globally, but President Donald Trump’s budget cuts and axing incentives aimed to drive EV adoption have led to a slowdown in EV sales in North America.
Tesla’s Performance
Tesla offers satisfactory momentum and quality, while scoring well on the growth metric. However, the company’s value score is poor.
Related News
For more information on Tesla’s sales and the electric vehicle market, check out the following articles:
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