Tesla sales cratered in China, but investors don't seem to mind

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Tesla sales cratered in China, but investors don't seem to mind

CNN2021-08-11

New York (CNN Business)Tesla sales dropped sharply in China, according to a trade group report, suggesting it is losing ground in the world's largest market for both traditional and electric vehicles....

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jeffmum
·2021-08-11
Ev go might loss steam?
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Guardian91
·2021-08-11
When looking at the Tesla in China, it’s always important to consider both local purchases and exports as well. There’s also a trend for sales in China to start slow at the beginning of each quarter. It may also be likely due to an emphasis in exports for better profitability.Always look at the bigger picture when it comes to TSLA ? It’s a long play after all.
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- jeffmum:
  ultimate home base of Tesla is us
  2021-08-11
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- jeffmum:
  ultimate home base of Tesla is in us.
  2021-08-11
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- Huehuehue:
  Agree!!
  2021-08-11
  Reply
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TANY0051
·2021-08-11
[Strong]
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2
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Tatsuya
·2021-08-11
I prefer Tesla car
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1
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sheenayam
·2021-08-11
Please like and comment
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5
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- DylanT:
  commented
  2021-08-11
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Ck38
·2021-08-11
Like and comment
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5
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- Fam_Fam87:
  ?
  2021-08-11
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Jjjjia
·2021-08-11
Pls like
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3
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ChowCCJ
·2021-08-11
Seems like China has created a high barrier of entry for the EV industry. NIO LI XPEV have taken up a large domestic market share, and given china’s influence in Asia, likely they will be a strong competition in Asia EV space too
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kongster
·2021-08-11
Its a future
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SionKoh
·2021-08-11
OMG ?
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- ting90:
  ok
  2021-08-11
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yattreblif
·2021-08-11
Cool
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- Ck38:
  Yes
  2021-08-11
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But the export of cars built at Tesla's Shanghai plant jumped to 24,347 for July, compared with 5,017 in June. That means total sales of Chinese-built Teslas fell less than 1% overall.Critics say the steep decline of sales to Chinese consumers is yet another sign of the growing problems the company faces in the country. Tesla is contending with increased competition from Chinese EV makers as well as a run of bad publicity, including arecallof virtually all of the cars that have been built in Shanghai. The company also facedprotests by Telsa owners at this year's Shanghai auto showover poor car quality and varioussafety concernsflagged by Chinese regulators.Teslas accounted for just 3.9% of July sales of battery electric vehicles in China, down from 12.6% in June, said analyst Gordon Johnson, who has been among the harshest critics of the company. He said that decline shows Tesla is facing fiercer competition from local EV startups.\"Overall, it now seems clear that Tesla has overbuilt Chinese capacity when compared to domestic demand, which will result in further price cuts and margin pressure,\" Johnson said. \"Given China is supposed to be Tesla's 'growth market,' these numbers should concern any Tesla bull.\"ButTesla(TSLA)investors seemed unfazed by the sales dip, as shares declined less than 2% in early trading Tuesday. That's in sharp contrast to the steeper drops in the stock price following similarweak reportsfrom the CPCA in April and May.\nLast month investors saw that declining numbers in China didn't stop Tesla from reportingbetter than expected global salesfor the full quarter, said Dan Ives, a tech analyst for Wedbush Securities and a Tesla bull.\"I think investors are becoming less sensitive to the month-to-month China numbers,\" he said. \"Ultimately, it's not been the best indicator of Tesla's success, as we saw in the second quarter.\"But Ives said that if Tesla's sales in China don't improve, the company could face serious problems going forward.\n\"Right now we believe that China will be 40% of deliveries for Tesla by next year,\" he said. \"So selling only 8,000 in a month, even though it's a volatile number, it doesn't give the bulls the warm and fuzzies.\"Unlike other automakers, Tesla does not breakdown sales by market and only reports sales quarterly, not monthly. So the numbers from the CPCA are not confirmed. 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There’s also a trend for sales in China to start slow at the beginning of each quarter. It may also be likely due to an emphasis in exports for better profitability.Always look&nbsp;at the bigger picture when it comes to TSLA ? It’s a long play after all.","listText":"When looking at the Tesla in China, it’s always important to consider both local purchases and exports as well. There’s also a trend for sales in China to start slow at the beginning of each quarter. It may also be likely due to an emphasis in exports for better profitability.Always look&nbsp;at the bigger picture when it comes to TSLA ? It’s a long play after all.","text":"When looking at the Tesla in China, it’s always important to consider both local purchases and exports as well. There’s also a trend for sales in China to start slow at the beginning of each quarter. It may also be likely due to an emphasis in exports for better profitability.Always look at the bigger picture when it comes to TSLA ? It’s a long play after all.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/892635453","repostId":1108124704,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5496327,"gmtCreate":1628692096632,"gmtModify":1663232236346,"authorId":3582787548532316,"author":{"id":3582787548532316,"idStr":"3582787548532316","authorId":3582787548532316,"name":"jeffmum","avatar":"https://static.tigerbbs.com/3aaf38ada4e9468a5ba38839ff3b40a9","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":892635453,"type":1,"supId":0,"prevId":0,"content":"ultimate home base of Tesla is <u>us</u>","text":"ultimate home base of Tesla is <u>us</u>","html":"ultimate home base of Tesla is <u>us</u>"},{"id":5496339,"gmtCreate":1628692139068,"gmtModify":1663232236225,"authorId":3582787548532316,"author":{"id":3582787548532316,"idStr":"3582787548532316","authorId":3582787548532316,"name":"jeffmum","avatar":"https://static.tigerbbs.com/3aaf38ada4e9468a5ba38839ff3b40a9","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":892635453,"type":1,"supId":0,"prevId":0,"content":"ultimate home base of Tesla is in us.","text":"ultimate home base of Tesla is in us.","html":"ultimate home base of Tesla is in us."},{"id":5491422,"gmtCreate":1628655500985,"gmtModify":1663232213138,"authorId":3576626866386623,"author":{"id":3576626866386623,"idStr":"3576626866386623","authorId":3576626866386623,"name":"Huehuehue","avatar":"https://static.tigerbbs.com/a933d8a5c1e7c3da46b77a0a8bc41ed0","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":892635453,"type":1,"supId":0,"prevId":0,"content":"Agree!!","text":"Agree!!","html":"Agree!!"}],"langContent":"EN"},{"id":892873506,"gmtCreate":1628650976505,"gmtModify":1676529809558,"author":{"id":"4087614954520500","authorId":"4087614954520500","name":"TANY0051","avatar":"https://static.tigerbbs.com/45437e79e37475d2911f2a4b2f84983d","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"4087614954520500","authorIdStr":"4087614954520500"},"htmlText":"[Strong]&nbsp;","listText":"[Strong]&nbsp;","text":"[Strong]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/892873506","repostId":1108124704,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":892846478,"gmtCreate":1628650592794,"gmtModify":1676529809380,"author":{"id":"3580746005297647","authorId":"3580746005297647","name":"Tatsuya","avatar":"https://static.tigerbbs.com/9e704bb3e3180783f322dc964a67d550","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":0,"idStr":"3580746005297647","authorIdStr":"3580746005297647"},"htmlText":"I prefer Tesla car","listText":"I prefer Tesla car","text":"I prefer Tesla car","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/892846478","repostId":1108124704,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":892821412,"gmtCreate":1628649282236,"gmtModify":1676529808830,"author":{"id":"3579743164156658","authorId":"3579743164156658","name":"sheenayam","avatar":"https://static.tigerbbs.com/fe1b57a8371314fd64ce0840001df6b2","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3579743164156658","authorIdStr":"3579743164156658"},"htmlText":"Please like and comment","listText":"Please like and comment","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/892821412","repostId":1108124704,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5490890,"gmtCreate":1628651822702,"gmtModify":1663232210338,"authorId":3582541483650512,"author":{"id":3582541483650512,"idStr":"3582541483650512","authorId":3582541483650512,"name":"DylanT","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":892821412,"type":1,"supId":0,"prevId":0,"content":"<u>commented</u>","text":"<u>commented</u>","html":"<u>commented</u>"}],"langContent":"EN"},{"id":892869015,"gmtCreate":1628648416337,"gmtModify":1676529808516,"author":{"id":"3583102255464470","authorId":"3583102255464470","name":"Ck38","avatar":"https://static.tigerbbs.com/9b8be8ba545142480a0d1d5dc625e918","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3583102255464470","authorIdStr":"3583102255464470"},"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/892869015","repostId":1108124704,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5491791,"gmtCreate":1628658289332,"gmtModify":1663232214941,"authorId":3574492498982218,"author":{"id":3574492498982218,"idStr":"3574492498982218","authorId":3574492498982218,"name":"Fam_Fam87","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"currentWearingBadge":{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a 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like&nbsp;","listText":"Pls like&nbsp;","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/892885709","repostId":1108124704,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":892885582,"gmtCreate":1628648283046,"gmtModify":1676529808368,"author":{"id":"3575375342391732","authorId":"3575375342391732","name":"ChowCCJ","avatar":"https://static.tigerbbs.com/bc5fafdf3c6b7c87a4217f2f73a89adb","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575375342391732","authorIdStr":"3575375342391732"},"htmlText":"Seems like China has created a high barrier of entry for the EV industry. NIO LI XPEV have taken up a&nbsp;large domestic market share, and given china’s influence in Asia, likely they will be a strong competition in Asia EV space too&nbsp;","listText":"Seems like China has created a high barrier of entry for the EV industry. NIO LI XPEV have taken up a&nbsp;large domestic market share, and given china’s influence in Asia, likely they will be a strong competition in Asia EV space too&nbsp;","text":"Seems like China has created a high barrier of entry for the EV industry. 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