Tesla China Q2 Sales Hit New High As Giga Shanghai-Made Cars Account For 53% Of Global Deliveries
Portfolio Pulse from Shanthi Rexaline
Tesla's China sales rose sharply in June, with 93,680 units of Giga Shanghai-made cars delivered, marking an 18.72% increase from a year ago and 20.57% upside from April’s sales. Tesla’s Q2 sales in China hit a record of 247,217 units, accounting for over 53% of the company's global deliveries. The strong sales figure was achieved on the back of promotional schemes and is expected to boost Tesla’s automotive margins due to the production efficiency and relatively cheap labor force at the Giga Shanghai factory.
July 04, 2023 | 4:36 pm
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Tesla's record sales in China, which account for over half of its global deliveries, are expected to boost the company's automotive margins. This is due to the production efficiency and relatively cheap labor force at the Giga Shanghai factory.
The record sales in China, which account for over half of Tesla's global deliveries, indicate strong demand for Tesla's products in the region. This, coupled with the production efficiency and relatively cheap labor force at the Giga Shanghai factory, is expected to boost the company's automotive margins, which could positively impact the company's earnings and, consequently, its stock price.
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