Tesla's China-made EV sales surge in August
jetcityimage/iStock Editorial via Getty Images

Tesla (NASDAQ:TSLA) has made significant strides in the Chinese electric vehicle market, selling 84,159 EVs in August, marking a 9.3% increase Y/Y.
The EV giant experienced a 30.92% sales surge as compared to 64,285 units in July.

On YTD basis, Tesla sold 624,983 China-made vehicles, up ~56.3% Y/Y.

Meanwhile, rival BYD (OTCPK:BYDDF) showed off its strength in the EV industry in August with a 57.5% Y/Y increase in passenger vehicle deliveries.
Last week, Tesla dropped pricing in China yet again and introduced a new Model 3 with a longer range.
Despite a 126% spike in the company's stock price this year, Seeking Alpha's Quant Rating system rates shares as Hold. Meanwhile, Wall Street analysts rate the stock as a Buy.


Related stories

BYD: Poised To Be King In The Chinese EV Market
Tesla's Margins: How Low Will They Go?
Unleashing Tesla's Potential: Strong Execution Yet To Find Its Full Value
Tesla: Sell-Off Is Unwarranted
Tesla: China Turmoil And Geopolitical Threats Darken Outlook
Tesla: Still Undervalued With Cybertruck Deliveries Coming Soon
BYD: Changing The Battery Market But Still Expensive
Yes, Tesla Is Intrinsically Undervalued Right Now
Tesla cuts prices in China yet again; Introduces a new Model 3 with longer range
Tesla under DOJ investigation for building Musk a glass castle
Detroit auto giants face tough labor decisions while Tesla cruises ahead
Tesla cruises higher even as the NHTSA pushes harder on Autopilot safety
BYD Company broadens reach with deal for Jabil's mobile electronics manufacturing business
Auto stocks are in the spotlight with potential roadblocks ahead
Tesla's Supercharger business is seen growing to be a $20B revenue monster
Tesla approaches the Cybertruck rollout cautiously due to unique design