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Tesla Sells An All-Time High ‘Made In China’ Vehicles In June


08/07/2022


Tesla Sells An All-Time High ‘Made In China’ Vehicles In June
Tesla scored its greatest monthly sales of China-made automobiles in June since opening its Shanghai facility in 2019, according to data released on Friday, as the American automaker ramped up output that had been impacted by the city's COVID-19 lockdown.
 
According to the China Passenger Car Association (CPCA), Tesla sold 78,906 China-made automobiles in June, including 968 for export. It sold 32,165 vehicles and exported 22,340 in May.
 
Tesla also had the highest monthly output at its Shanghai plant in June, according to CPCA Secretary General Cui Dongshu, without specifying a figure.
 
COVID limits in Shanghai hampered Tesla's output in the April-June quarter, while its new manufacturing in Berlin and Texas struggled to ramp up output.
 
Elon Musk, CEO of Tesla, had asked employees to work harder to make up for losses at the conclusion of a "very challenging" quarter caused by China's zero-COVID lockdowns, which caused greater disruptions to output than he had projected.
 
The Shanghai plant, which produces Model 3s and Model Ys, reopened on April 19, although full production would not begin until mid-June.
 
According to the CPCA, China's overall passenger car sales in June were 1.97 million, a 22 per cent increase from the previous year, aided by government measures. Cui predicted that auto sales would increase by roughly 2 per cent% year on year in July, and that demand would strengthen further in the fourth quarter, resulting in substantial growth for the entire year.
 
Electric vehicle sales accounted for 27 percent of total sales in June and surged 130.8 per cent, according to the CPCA.
 
Tesla's Model Y was the best-selling model among all passenger vehicles in June, with 52,557 delivered. It starts at 316,900 yuan ($47,311), which is higher than the 28,800-yuan Wuling Hongguang Mini EV.
 
BYD, which manufactures both pure electric and plug-in hybrid vehicles, dominated the EV market in June with 133,762 vehicles shipped.
 
Xpeng Inc delivered 15,295 packages, while Li Auto delivered 13,024.
 
On June 1, China reduced the purchase tax for small-engined vehicles by half, and municipal governments such as Beijing and Shanghai have also offered discounts or increased car ownership limits to stimulate sales.
 
China announced a slew of fresh steps to boost car demand on Thursday, including the possibility of extending a tax credit for electric vehicles and announcing plans to develop additional charging stations and encourage reduced charging fees.
 
(Source:www.investing.com)


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