Tesla’s Sales of China-made EVs Up 142% in June
2022.07.06 14:55
Tesla’s (TSLA) Sales of China-made EVs Up 142% in June
By Senad Karaahmetovic
Tesla (NASDAQ:TSLA) sold roughly 78,000 China-made cars last month, up 142% from May, according to the preliminary data announced by China Passenger Car Association (CPCA). Tesla sold 32,165 China-made electric vehicles (EVs) in May.
It is estimated that 1.926 million passenger cars have been sold in China in June, 22% more than in the same month last year.
Earlier this week, Tesla reported vehicle production and delivery results for Q2 2022, which slightly missed consensus estimates.
The world’s largest EV maker delivered 254,695 in the second quarter, short of the analysts’ estimates of 256,520 as the company grappled with coronavirus restrictions, supply chain constraints, and parts shortages. This compares with 201,250 vehicles the carmaker delivered in the same quarter last year. In Q1 2022, Tesla delivered 310,048 vehicles.
The delivery numbers for Q2 2022 accounted for sales growth of 26.5% compared to the year-ago period, and a 17.9% decline compared to the first quarter of 2022.
The total number of produced vehicles in the quarter was reported at 258,580.
In its previous guidance, Tesla said it expected about 50% average annual growth in the long run, conditional on its manufacturing capacity and some other factors.
“We plan to grow our manufacturing capacity as quickly as possible. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries,” the company told shareholders upon reporting Q1 results.
