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CPCA Estimate Shows Tesla Selling 30,000 China-Made Vehicles in July

Stock Markets Aug 04, 2022 03:27PM ET
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© Reuters. CPCA Estimate Shows Tesla (TSLA) Selling 30,000 China-Made Vehicles in July

By Michael Elkins

According to CnEVPost, the China Passenger Car Association (CPCA) has released a report showing that Tesla (NASDAQ:TSLA) China's wholesale sales are expected to be 30,000 units in July.

If the report is accurate, it would mean that Tesla’s China-made vehicle sales are down 62% from June's 78,906 units and 9% from the 32,968 units sold in the same month last year.

The final figure is expected to be released by the CPCA in the next few days.

This headwind follows a brief 2-week shutdown in July at the company’s Shanghai plant to upgrade its production lines. Following the upgrade, Tesla aimed to raise production at the plant to a new record high by the end of July. The goal for the company is the ability to produce 22,000 cars a week in Shanghai, according to a June memo before the shutdown.

Upgrades at the plant are expected to be completed around August 7, when production of the Model Y will increase to 14,000 units per week, and Model 3 production will increase to 7,700 units per week.

CPCA Estimate Shows Tesla Selling 30,000 China-Made Vehicles in July
 

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secure us
secure us Aug 05, 2022 1:35AM ET
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un-American to support the western world's enemy and putins partner in crime
 
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