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Tesla Posts Record China Monthly Sales on Easing Supply Chain Bottlenecks, Higher Output 2022-10-16
Tesla Posts Record China Monthly Sales on Easing Supply Chain Bottlenecks, Higher Output
Tesla reported its highest single-month sales in China last month, as supply chain constraints eased and the US electric car giant increased production at its Shanghai plant.
Tesla sold 83,000 cars in the country in September, the most since the end of 2019, according to data released by the China Passenger Car Association.
Tesla used to export a large proportion of the vehicles made at its Shanghai gigafactory, but that has changed. In the first eight months of this year, 60 percent were sold in China, CPCA data showed. The automaker also shortened the delivery time several times last month, so buyers need to wait only a week to get some models.
The Shanghai plant became the California-based firm’s largest worldwide after expanding its production capacity by 30 percent to about 22,000 units a month in September.
Tesla China faces fierce competition from Chinese EV producers, which will weaken its position in the country, Morgan Stanley analysts recently wrote in a report. China is the world's largest EV market, with more than 300 EV manufacturers.
BYD, which became the world’s first carmaker to stop producing fossil fuel-powered vehicles earlier this year, sold more than 200,000 EVs in China last month. Globally its sales are second only to Tesla.
Geely Holding Group, BAIC Group, SAIC Motor, and China Changan Automobile Group have each unveiled their own high-end EVs, and Chinese startups such as Nio and Xpeng are speeding up production. Nio sold 10,878 cars last month, up nearly 30 percent from a year earlier.
Source: Yicai
Source:Yicai
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