Tesla Electric Car Sales Were Up 27% From April To June, Slowed By Lockdowns In Chinese Cities
Jul 03,2022 | Chloe Lacour
Tesla's growth in China is heading for a landing. Affected by China's city closure (city closure), the global electric vehicle (EV) sales announced from April to June 2, 2022, were 254,695 units, a year-on-year increase of only 27%. Achieving the 2010 full-year sales target of more than 50% year-on-year The key to the growth rate lies in the recovery of new factories in the southern United States and Germany that are fully operational in the second half of the year.
By model, the small car "Model 3" and the small SUV (sport utility vehicle) "Model Y" increased by 20% to 238,533 units, accounting for 94%. The combined sales of the luxury sedan "Model S" and the luxury SUV "Model X" increased 8.5 times to 16,162 units.
Electric vehicle sales fell 18% (310,48 units) in the January-March 2010 April-June period, hitting a quarterly high and falling below the 300,000-unit level for the first time in three quarters. That's because the Chinese city of Shanghai has decided to lock down the city for about two months starting in late March in an effort to contain the novel coronavirus, forcing Tesla's electric car factory on the outskirts of the city to suspend operations.
According to local media reports, Tesla has allowed thousands of employees to sleep at the factory to reduce contact with the outside world and resumed electric vehicle production in mid-April. Tesla sold 1,512 vehicles in China in April 2010, down 94 percent from a year earlier, but recovered to 32,165 in May, down 4 percent, according to research firm MarkLines.
The stock market is expected to pick up in July-September
CEO Elon Musk said in a Jan. 26 financial results briefing that the 2010 electric-vehicle sales target will be well above the 50 percent level of the previous year. From January to June 2010, 564,743 vehicles were sold, an increase of 46% over the same period of the previous year. It will take a recovery in the second half of 2010 to achieve the target.
At Tesla, electric car factories in southern Texas and the German suburbs of Berlin are preparing to mass-produce the popular Model Y, which began operations this spring. The stock market is expected to restore the company's global electric vehicle sales growth rate to 60% year-on-year in July-September.
Beginning in 2009, Tesla gradually increased the price of various models, reflecting rising raw material prices and distribution costs. Over the past year and four months, the price of the Model 3 in the cheapest tier in the U.S. has risen by $10,000 and is currently set at $46,990.
Still, Tesla vehicles remain popular, and the company's U.S. website says the cheapest Model 3 grades will be delivered in three to six months. For now, the company's growth will depend on its ability to continue adding supply capacity steadily.
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