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szdaily -> Business -> 
Tesla sells 76,965 China-made cars
    2022-09-09  08:53    Shenzhen Daily

U.S. electric vehicle maker Tesla Inc. sold 76,965 China-made cars in August, including 42,463 for export, the China Passenger Car Association (CPCA) said Thursday.

This shows that Tesla’s China operations are back in full swing after a factory upgrade and Shanghai’s COVID-19 lockdown slowed production earlier this year.

Tesla’s August number is just below June’s record of 77,938 and a sharp rebound from 28,217 in July, when assembly lines at the U.S. firm’s plant in Shanghai were suspended for upgrades to double annual capacity to about 1 million units.

Chinese drivers’ passion for new energy vehicles shows no signs of abating. Total sales of new energy vehicles, which include pure-electric cars and plug-in hybrids, rose 111% to 529,000 units, the CPCA said.

Shenzhen-based BYD Co. remained top with record deliveries of 174,915 cars. The Warren Buffett-backed automaker shipped about 1 million cars in the first eight months of the year, accounting for about two-thirds of its annual target of 1.5 million.

The CPCA last month raised its forecast for total new energy vehicle sales in China this year to 6 million, double last year’s 2.99 million.

Overall passenger vehicle sales in China increased 28.4% from a year earlier to about 1.9 million units in August, the CPCA said.

Despite the overall increase in new energy vehicle sales, not all automakers were immune from regional disruptions, such as power cuts in Sichuan Province last month and smaller-scale COVID-19 outbreaks and lockdowns in several parts of the country.

Automakers’ profit margins have been squeezed to about 5% due to price increases from raw material suppliers, the CPCA secretary general Cui Dongshu said at a briefing. Companies will eventually improve supply chain integration and pricing power, with a particular focus on batteries, he said. (SD-Agencies)

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