Tesla, Inc. (NASDAQ: TSLA) posted record quarterly sales last week, yet little was known about the company’s success in China at the time. Tesla does not break down data by month or location for the uninformed.
In terms of month-over-month growth in China, according to a new analysis from a Chinese industry association, the US corporation did not quite meet up to its domestic rivals in June.
In China, Tesla sales are down month over month: According to Reuters, Tesla sold 33,155 made-in-China vehicles in June, including its Model 3 sedan and Model Y SUVs, citing figures from the China Passenger Car Association.
The total number of automobiles sold in China was 28,138, with the remaining 5,017 being exported.
In China, total June sales increased by 122 percent year over year but fell by 0.9 percent month over month.
Tesla’s sales in China fell to 25,845 units in April before rebounding to 33,463 vehicles in May. Negative headlines about quality difficulties with Tesla vehicles and a government restriction on Tesla vehicles from some sensitive sites were blamed for the tepid performance in April.
Associated Link: Tesla Q2 Deliveries Demonstrate a ‘True Growth Story,’ with the electric vehicle manufacturer on track to surpass 2021 deliveries. Gene Munster’s prognosis
Tesla vs. Chinese Electric Vehicle Manufacturers: Nio, Inc. (NYSE: NIO), a Chinese electric vehicle company, reported a 116.1 percent year-over-year rise in June deliveries, which totalled 8,083 units, and a 20.4 percent month-over-month increase.
June sales for XPeng, Inc. (NYSE: XPEV) were 6,565 automobiles, up 617 percent year over year and 15.5 percent month over month.
BYD Company Limited (OTC: BYDDF), sponsored by Warren Buffett, sold 40,532 new energy vehicles in June, including battery electric and plug-in hybrid automobiles.
In June, the Chinese automaker sold 20,016 automobiles, a 102 percent increase year over year.
Tesla’s stock was down 1.35 percent at $635.94 at the time of writing.
Associated Link: Is Tesla’s growth story complicated by many vehicle recalls?
Elon Musk, CEO of Tesla, speaks during the Shanghai Gigafactory’s groundbreaking. 2021 is a courtesy photo. Benzinga.com. Benzinga does not offer financial advice. All intellectual property rights are reserved./n
