Tesla's Made-In-China Sales Offer Sliver Of Hope Ahead Of Q1 Global Deliveries Report
Portfolio Pulse from Shanthi Rexaline
Tesla Inc.'s sales of China-made vehicles increased by nearly 48% in March compared to February, with a total of 89,064 units sold. Despite this monthly increase, the sales were flat compared to March 2023. For Q1, Tesla delivered 220,681 China-made cars, with analyst Gary Black estimating a total of 133,700 EVs sold in China for the quarter, marking a 2% year-over-year decline and a 22.2% drop from the previous quarter. Tesla's global deliveries for the quarter are expected to be around 431,000 units, potentially marking the first year-over-year decline since 2020. Tesla's stock fell 0.55% in premarket trading.
April 02, 2024 | 11:51 am
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Tesla's China-made vehicle sales increased in March, but overall Q1 sales in China and expected global deliveries indicate potential year-over-year declines. Tesla's stock experienced a slight drop in premarket trading.
The increase in Tesla's China-made vehicle sales in March is positive, but the overall decline in Q1 sales in China and the anticipated drop in global deliveries could signal challenges ahead for Tesla. The premarket stock price drop reflects investor concerns over these potential declines.
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