Tesla Tesla from China factory set a record but less views

Tesla (TSLA) delivered a record number of vehicles in September from its Shanghai plant, according to wholesale estimates released Sunday from the China Passenger Car Association released. However, Tesla’s deliveries did not match the views.


Tesla China’s September sales estimate was 83,135 vehicles, a record 8% increase over the previous month. However, this is much less than the delivery of 100,000 cars Analysts predict Tesla will be delivered in China during September.

It is also unclear how many electric vehicles from Tesla’s Shanghai plant have been exported and how many are left in China. A more detailed report is expected Tuesday morning, with official figures including the breakdown of domestic sales and exports.

Weekly Tesla car sales in China fell at the end of September, dropping 54% in the last week of the month compared to previous figures. The global electric car giant sold 10,651 vehicles between September 26 and October. 2 for 23,109 vehicles from September 19 to September. 25.

Tesla set a record in June with 78,906 vehicles delivered in China. he is coming Close to matching this height In August, but failed.

last week, Tesla mentioned Global vehicle delivery in the third quarter which also set a record, while coming in far fewer views.

Tesla’s deliveries totaled 343,830 electric vehicles in the third quarter, up 42% from a year earlier and surpassing the first-quarter record of 310,048. It was also 35% higher than 254,695 in the second quarter. Analysts expected Tesla to deliver 350,000 to 370,000 in the third quarter, with the consensus just above 360,000.

Tesla stock is up 0.5% on Monday market trading. Shares closed 6.3% lower at 223.07 on Friday. fellow auto giants stronghold (F) And the General motors (GM) Also fell sharply Monday morning after UBS (UBS) both lowered. Ford shares fell 7.8 percent, while General Motors fell 5.5 percent.

Tesla Delivery: Demand Concerns

With Tesla’s Shanghai plant recently receiving a capacity upgrade, there have been indications that Tesla’s demand may not be strong enough to support increased production capacity, especially in China.

Reuters reported that Tesla plans to keep production at its upgraded Shanghai plant at around 93% of capacity through the end of the year. Recent improvements to the plant have increased production capacity by nearly a third.

The Shanghai plant was halted this summer due to an upgrade, affecting production in July and early August. However, even if the plant is operating at 93% capacity, it is assumed to produce much more vehicles in the fourth quarter than it did in the third.

Tesla China’s waiting times for new vehicles fell sharply in September, indicating little or no backlog. Wait times increased modestly again, as Tesla returned to exporting Shanghai cars at the start of the quarter.

Tesla also started introducing new insurance support in China during the month of September, serving as De facto price cut. This insurance support will continue until the end of the year.

There is speculation that Tesla will announce a China price cut in early October. Another option is for Tesla to export a larger share of its production in Shanghai. There are some reports that this is already happening, with Shanghai switching to export a few days ago.

Tesla EV lineup

Tesla produces the Model S sedan and Model X SUV, as well as the Model 3 sedan and Model Y crossover. However, the vast majority are Model 3 and Y models.

Other vehicles, including Semi and Cybertruck, were pushed back several times. Musk said the Cybertruck is on its way to mid-2023 and that Tesla Semi will begin deliveries by the end of 2022.

Mask tweeted last week Tesla Production began on Tesla Semi Tractor trucks. delivery to PepsiCo (PEP) is scheduled to start on the 1st of December. Musk said the electric semi-trucks will have a range of 500 miles per charge.

Tesla faces the EV competition

While Tesla’s grip on the global electric car market remains in place, it is starting to lose ground in China to the backed Warren Buffett. BYD (BYDDF).

BYD reported a September sales boom, exceeding 200,000 for the first time. The company sold a record 20,259 new energy vehicles in September, after 174,915 in August and 162,530 in July. That was an 183% increase over the previous year. Of the 200,793 personal vehicles, BYD sold 94,941 pure electric vehicles, or BEVs, and 106,032 plug-in hybrid vehicles.

Clash of the Titans: Tesla vs. BYD

The China-based auto giant is also adding significant capacity to electric and battery vehicles with the company targeting earlier this year to sell at least 1.5 million new electric vehicles in 2022, and possibly 2 million. Deliveries are likely to easily exceed 1.8 million, with 1.9 million or more likely, according to analysts’ estimates.

BYD, the world’s largest maker of electric and hybrid cars and the largest seller of pure electricity in China, also deals with Tesla Model 3 directly.

BYD’s Seal sedan has roughly equal proportions and ranges with the Model 3 — but it’s $10,000 cheaper. BYD began deliveries in late August, at 1,726 per month, but is expected to pick up in the coming months.

Meanwhile, luxury electric cars start New (NIO) was also offering a Model 3 replacement when it began delivering the ET5 on September 30th.

in the third quarter, Nio sold a record 31,607 cars, an increase of 29.3% compared to the previous year and an increase of 26.1% compared to the second quarter. Nio sold 10,052 vehicles in July, 10,677 in August and 10,878 in September.

Please follow Kit Norton on Twitter Tweet embed For more coverage.

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