Most significant sales Tesla Stock in China 70,000 December

Most significant sales Tesla Stock in China 70,000 December

According to the China Passenger Car Association, the China Passenger Car Association recorded record Tesla (TSLA) local deliveries in December. Tesla's shares rose little on Tuesday, while China's electric vehicle rivals rallied strongly.

In December, Tesla sold 70,847 automobiles in China, with only 245 units exported. When exports are low, Tesla usually records its highest local deliveries in the third month of the quarter. Tesla sales were in line with expectations but marked a significant increase over the previous month.

In November, Tesla Shanghai sold 52,859 Model 3 sedans and Model Y crossover SUVs, with 21,127 exported. The majority of such shipments settled for Europe.

Tesla just received authority to construct 2,000 Model Y bodies at Gigafactory Berlin while waiting for final approval to operate the facility. The Tesla facility in Berlin will eventually produce the majority of the company's automobiles for European consumers. However, the factory's production ramp may be slow, and it will initially only produce the Model Y.

According to the CPCA, new energy vehicle sales were 505,000, up 139 percent from a year ago and 17.8% from November. Fully electric, plug-in hybrid, and fuel-cell vehicles are examples of NEVs. In December, 423,000 electric vehicles were sold.

With China decreasing EV subsidies by 30% in 2022, Tesla and many other EV companies benefit. Beijing intends to phase out subsidies after 2022.

Tesla's Q4 Blowout
In the fourth quarter, Tesla delivered 308,600 electric vehicles worldwide, well above expectations. Tesla delivered 296,850 Model 3 and Y automobiles in the fourth quarter and 11,750 Model S and X vehicles. In 2021, the electric vehicle manufacturer from the United States delivered 936,172 units.

Due to semiconductor shortages, Tesla has been able to circumvent supply-chain concerns that have plagued other automakers. Tesla has accomplished this by obtaining several processors and depending on in-house programmers to rewrite software to make them work swiftly.

EV Startups in China
Tesla's Chinese competitors, on the other hand, have already announced good December sales at the start of the month. BYD (BYDDF), an electric vehicle and battery manufacturer, more than tripled their December and full-year 2021 sales. Last month, BYD, financed by Warren Buffett, sold 93,945 new energy vehicles, up 225.7 percent from a year ago and up 3% from November. BYD sold 603,783 NEVs in 2021, up 218.3 percent from 2020.

In December, Nio (NIO) sold 10,489 electric vehicles, increasing over 50% year over year but down slightly from November's 10,878.

In December, Xpeng (XPEV) and Li Auto (LI) outsold Nio. Last month, Xpeng set a new milestone by delivering 16,000 electric vehicles. In comparison to a year before, deliveries increased by 181 percent. In December, Li Auto sold 14,087 Li-One hybrid SUVs, rising 130 percent over the previous year.

Tesla Stock
Today, Tesla stock rose 0.6 percent to 1,064.40 on the stock market. Tesla shares surged 3% on Monday, bouncing back from substantial intraday losses along with the Nasdaq. According to MarketSmith chart analysis, TSLA stock has a double-bottom 1202.05 buy point.

Tesla's relative strength line hasn't broken down despite being off highs. On the other hand, its RS Rating remains high, at 96 out of a possible 99. It has an EPS of 72.

After falling 1.5 percent on Monday, BYD stock rose 3.8 percent over the counter in the United States. On Tuesday, China-based rivals Nio gained 3.8 percent, Xpeng gained 7.3 percent, and Li Auto gained 8.2 percent. All three were down significantly on Monday.

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