Tesla sells 57,152 cars in China in Aug, down 10% year-on-year

This marks Tesla's sixth year-on-year decline in China retail sales this year. From January to August, it only saw year-on-year growth in China sales in March and June.

57,152 cars in China with 1.4 billion people??? Sad

Still way too much, given the strong competition. Who buys that car given the alternatives. It's based on no evidence or anything but I think that real sales are at least another 10-20% lower.... Creative accounting or support by the communist party. I don't know, maybe I am totally wrong

1. Government offices, of which China started allowing to buy Tesla's about mid-way through last year, helping to pump up their delivery numbers when they were struggling in the first half of last year. Tesla is the only foreign brand on the list of brands Government agencies can purchase. 2. There's likely a fairly large cohort of Tesla investors in China, and Tesla has a habit of fostering this group by inviting them to store events, like the model Y L launch. Chinese folks used to invest heavily in real estate, but with the recent real estate bust in the nation, they've very likely been investing in stocks; likely including in the US stock market, and especially the the big US tech companies and index funds. With Tesla doing their normal thing of promising to 8.5x within a few years... gullible investors are likely throwing loads of money into the company just like Americans and Europeans did in 2019-2020 when Musk was making his "million robotaxis on the roads by next year" promises. If I've learned anything in my years of trading various stocks, when people start throwing huge chunks of their savings into a stock, they quickly become activist investors, buying up all the company's products and trying to convince everyone they know to do the same.

The slope is slippery. 🍿🤭

I’m convinced these “activist investors” are everyone I see driving a Tesla. I see no other way the car or the company could possibly hold appeal to someone.

Future headline: Tesla stock soars on rumors of imminent bankruptcy

And that is with tesla inflating and lying about their sales numbers.

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Is Tesla profitable in China or do the profits come from Europe and N.A. I know a lot of companies struggle making money in China and I assume with the price wars it’s real hard now.

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This probably great for their stock price

The long wheelbase will change everything just like the facelift /s

Tesla is not in the EV business yet they sold 57k cars. Stock to the moon

Most likely they will have discounts on September to compensate quarterly figures

Bullish

Tesla files for Chapter 11 protection, becomes the first $10T company.

Bro, why are you here? Lol If you don't want to see people shitting on Tesla you probably shouldn't go to the sub known for shitting on Tesla.

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But the charging network is open to other brands now...

Chapter eleven trillion

Tesla is the symbol of rich man in China. Only very rich Chinese buy Tesla. BYD Seagull is US$7,500. That is targeting middle class. From what I saw on Youtube, many entry level workers buy less known brand which could be as low as $3,500. These are new car prices. Because it is a communist country, they believe everybody should have a car even they earn low wage.

So the annual sales won't exceed one million. Considering China's population is multiple of USA, it is a small sales number.