Tesla sells 65,814 China-made vehicles in March, up 16% sequentially
AdrianHancu/iStock Editorial via Getty Images


Electric vehicle manufacturer Tesla (NASDAQ:TSLA) reports China-made electric cars sales jumped 16% M/M and grew 86% Y/Y to 65,814 units in March - Reuters.
The total number of China-made cars delivered in February was 56,515 units vs. 59,845 units in January.

Despite sequential increase in March, production at Tesla's Shanghai factory was only 154 units higher than in February to 55,462 cars, much less than expected.
Tesla (TSLA) exported just 60 cars produced at its Shanghai factory during the month, as strong domestic demand swayed up most of the output, according to China Passenger Car Association.
âDespite the global lithium price hike and chip shortage, Chinaâs local OEMs achieved a great performance with their strong capability and government coordination,â Cui Dongshu, secretary general of the trade body, said. He said Chinaâs share of the global autos market reached a record 36% in the first two months of the year.
Chinaâs passenger vehicle sales slipped 10.9% Y/Y in March to 1.61M units.
China's strict lockdown to contain he spread of the highly contagious Omicron variant in several places had impacted logistics and retail sales of cars.
Chinese EV maker Nio (NIO) delivered 9,985 cars in March, up 37.6% Y/Y; Li Auto (LI) delivered 11,034, up 125% Y/Y and XPeng (XPEV) delivered 15,414 vehicles, up 202% Y/Y.
Chinese automaker BYD Company (OTCPK:BYDDF) sold more 104,878 new energy vehicles in March, up 333% Y/Y.
On April 7, the company announced price hike of the Model 3 Long Range from $54,490 to $55,990 and and Model 3 Performance from $61,990 to $62,990 in the US. Prices in China are currently unchanged.
On April 9, Chinese EV maker NIO announced that it had suspended production after the country's measures to contain the recent epidemic surge had disrupted operations at its suppliers.
Wall Street Analysts and SA Quant screens the stock with hold rating.
Read the most recent analysis on the stock here.