Tesla China Sales Roar Back In August. Elon Musk Says This About The Shanghai Plant.

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Tesla China Sales Roar Back In August. Elon Musk Says This About The Shanghai Plant.

Blockhead09-09

Tesla (TSLA) domestic sales in China hit 2024 year highs last month, marking a 37% increase compared to July, according to data released Monday by the China Passenger Car Association. Meanwhile Chief ...

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Meanwhile Chief ...</p>\n\n<a href=\"https://www.investors.com/news/tesla-stock-china-sales-elon-musk-shanghai-plant/\">Source Link</a>\n\n</div>\n","source":"investor_business_daily_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla China Sales Roar Back In August. 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Elon Musk Says This About The Shanghai Plant.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-09 23:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/news/tesla-stock-china-sales-elon-musk-shanghai-plant/><strong>Blockhead</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla (TSLA) domestic sales in China hit 2024 year highs last month, marking a 37% increase compared to July, according to data released Monday by the China Passenger Car Association. Meanwhile Chief ...</p>\n\n<a href=\"https://www.investors.com/news/tesla-stock-china-sales-elon-musk-shanghai-plant/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TSLL","symbol_name":"Direxion Daily TSLA Bull 2X Shares","start_time":0,"source_url":"https://www.investors.com/news/tesla-stock-china-sales-elon-musk-shanghai-plant/","article_id":"2466113263","we_media_id":null,"thumbnails":["https://www.investors.com/wp-content/uploads/2020/04/Stock-Tesla-09-adobe-150x150.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2466113263","pubTimestamp":1725895769,"columns":[],"sourceInfo":{"source_id":"investor_business_daily_highlight","name":"Investor’s Business Daily"},"weMediaInfo":null,"summary":"Tesla stock cratered on Friday but looked to gain ground early Monday.","collect":0,"end_time":0,"defaultTopTitle":"investors.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"TSLL":"Direxion Daily TSLA Bull 2X Shares","TSLA":"特斯拉"},"translate_title":"特斯拉中华区8月份销量大幅回升。埃隆·马斯克这样评价上海工厂。","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TSLA":1,"TSLL":1},"content_text":"Tesla (TSLA) domestic sales in China hit 2024 year highs last month, marking a 37% increase compared to July, according to data released Monday by the China Passenger Car Association. Meanwhile Chief Executive Elon Musk took to social media to defend Tesla's market position in China. TSLA shares angled higher early Monday.\n\n\n\n↑\nX\n\n\n\n\nFrom Nvidia To Tesla, Here's How To Reel In A Big Catch\n\n\nSee All Videos\n\n\n\n\nNOW PLAYING\nFrom Nvidia To Tesla, Here's How To Reel In A Big Catch\n\n\n\n\nTesla delivered 63,456 vehicles domestically in China while exporting 23,241 China-made vehicles to foreign markets during August. The U.S. EV giant's domestic unit sales grew more than 37% vs. the 46,227 sales in July, but are still down around 2% compared to the 64,694 total from August 2023.\nLast week, the China Passenger Car Association released preliminary data showing Tesla sold 86,697 China-made EVs in August, including exports. That marked a 17% increase vs. July and a 3% jump vs. a year earlier, as China's competitive EV market appears to be rebounding.\nTesla stock advanced 2.3% to 215.54 during market action on Monday after cratering 8.5% to 210.73 on Friday, dropping back below its 50-day moving average.\nTesla China So Far In 2024\nThrough the first eight months of 2024, Tesla China has sold 587,437 vehicles, down 6% compared to the same time frame in 2023. However, in the January-August period, Tesla has sold 388,000 vehicles in China, which is down less than 1% from those eight months in 2023.\nIn August, Tesla's EV market share in China was about 8.3%.\nTesla China is benefiting from continued five-year, zero-interest loans to buyers, as well as increased government subsidies for EVs. These are currently running through the end of September.\nAnalyst consensus has Tesla Q3 deliveries totaling 458,000 units, up more than 5% vs. Q3 2023, according to FactSet. This total would represent the third best quarterly delivery total ever for Tesla, behind Q2 2023's 466,000 and Q4 2023's record setting 485,000 deliveries. Analysts project Tesla matching its record total in the fourth quarter, meaning unit sales would be flat compared to a year ago.\nOn Sunday, Musk responded to a post on X about a Financial Times article claiming Tesla is losing customers in China amid growing EV competition.\n\"Believing the news is silly,\" Musk wrote. \"Our Shanghai factory is running at max capacity.\" At the end of 2023, Tesla's Shanghai plant had an annual vehicle capacity of around 950,000.\nTesla Stock Performance\nLast week, Tesla stock fell 1.6% to 210.73, erasing the prior two-week gain. On Thursday, shares popped above their 50-day line and cleared a 238.22 short-term high, buoyed by robust China sales and the EV giant's full self-driving, known as FSD, rollout plans. That offered an aggressive entry for TSLA stock.\nHowever, on Friday TSLA plunged 8.45%, dropping below the 50-day line. Tesla stock is attempting to start up the right side of a possible cup-base.\n\nTSLA shares are now down 1.6% in September after declining 7.7% in August. Tesla stock has fallen around 15% in 2024, after rebounding about 60% from a late-April low amid some steep ups and downs.\nShares rallied onto positive ground for the year in mid-July, then rolled over into a five-week slide. Now, into an attempt to climb out of that ditch, the stock has been unable to retake and hold support at its 50-day moving average, according to MarketSurge charts.\n\nTesla stock ranks third in the 35-member IBD Auto Manufacturers industry group. The stock has a 65 Composite Rating out of a best-possible 99. Shares also have a 63 Relative Strength Rating and a 57 EPS Rating.\nPlease follow Kit Norton on X @KitNorton for more coverage.\nYOU MAY ALSO LIKE:\nIs Tesla Stock A Buy Or A Sell?\nGet Full Access To IBD Stock Lists And Ratings\nLearning How To Pick Great Stocks? Read Investor's Corner\nAI Is Fueling A 'Nuclear Renaissance.' Bill Gates And Jeff Bezos Are In The Mix.\nElon Musk's xAI Has Discussed Sharing Tesla Revenue\nWhat's On Tap: Apple iPhone 16 Headlines Three Big AI Events","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}