$TSLA China Deliveries Surge 40%, Model Y Production Cut!!
• Tesla China's vehicle deliveries increased by 40% last week despite reports of a 20% Model Y production cut for the next quarter.
• Tesla registered 13,800 new vehicles in China last week, marking a 41% increase from the previous week and sold 163,000 domestically from January to April.
• Reports indicate a decline in Model Y production in China, with 17.7% fewer units in March and 33% fewer in April compared to 2023.
• Tesla introduced promotions like free supercharging and zero-interest/down payments for Model 3 and Model Y orders by June 20th and June 30th, respectively, likely contributing to increased sales.
• Reports suggest Tesla China plans to cut Model Y production by at least 20% from March to June, with significant production reductions already observed.
• Tesla's omitted goal of delivering 20 million vehicles annually by 2030 in its impact report indicates a potential shift in focus, possibly towards robotaxis.
• In the US, Tesla introduced promotional loan rates, initially at 0.99% APR, later increased to 1.99% for 72-month loans, aiming to stimulate sales.
• China's government stimulus measures could impact Tesla's sales trajectory in the region, with fluctuations seen between weaker April and potentially stronger May sales.
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