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29% Surge In Sale Of Tesla's China-Made Vehicle Sales In May


06/08/2021


29% Surge In Sale Of Tesla's China-Made Vehicle Sales In May
There was a 29 per cent surge in the sale of China made cars from the United States based electric car maker Tesla Inc in May as the company sold 33,463 electric cars made in China in the month, showed data from the China Passenger Car Association (CPCA) on Tuesday.
 
CPCA said that on a year on year basis, there was 177 per cent jump in the sale of new electric vehicle in China in May. However there was only 1.1 per cent growth in the overall sale of passenger vehicles in the month at 1.66 million cars in May.
 
 The sale of Tesla cars in China accounts for almost one third of the total global sales of the company and this figure is a closely watched one for investors and analysts as it provides data on eth health of the company in the China – which is the second largest market for the American company after is domestic market. The company has also made large investments in China and has used innovative and new marketing methods in the market to to attract customers.
 
In May, 11,527 China-made vehicles were exported by Tesla where the company makes its Model 3 sedans and Model Y sport-utility vehicles in its factory in Shanghai.
 
The company had sold a total of 25,845 China-made cars in April compared 35,478 cats in the previous month.
  
Tesla's Model 3 sedans were the best selling electric vehicles in the country but were dethroned from that position by a much cheaper micro electric vehicles manufactured by the joint venture between General Motors and SAIC Motor.
 
Conventional Chinese electric vehicle makers such as BYD and startups including Nio Inc, and Xpeng Inc are giving stiff competition to the US company in the Chinese market.
 
According to the CPCA report, it is expected that 2.4 million electric, plug-in hybrid and hydrogen fuel cell passenger vehicles will be sold in the Chinese market in the current year.
 
There has also been scrutiny of Tesla in China over the manner in which it handles customer complaints related to quality issues of its cars.
 
There were also reports last week of employees of some Chinese government offices being ordered not to park their Tesla cars inside government compounds over concerns of security related to the cameras that are installed in the cars.
 
In or der to address these issues in China, Tesla has intensified efforts to better engage with regulators while also augmenting its government relations team, said reports quoting sources. The company has also set up a data centre in China for storing data that it gathers locally in China. The company also plans to open a data platform for customers.
 
(Source:www.hindustantimes.com)


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