Tesla’s Chinese Deliveries Slip in October Following Record Highs
Investing.com
Published Nov 03, 2022 07:59AM ET
Tesla’s (TSLA) Chinese Deliveries Slip in October Following Record Highs
By Michael Elkins
Tesla's (NASDAQ:TSLA) China deliveries fell in October after reaching record highs the month before. According to China's Passenger Car Association, the company shipped 71,704 cars from its Shanghai plant. That's up from a year ago, but down from a record high of 83,135 reached in September.
Total wholesale of new energy vehicles grew 87% from a year earlier to 680,000 units, according to preliminary figures from the PCA. Shenzhen-based BYD Co. (SZ:002594) remained the top seller, with deliveries of 217,518 in October.
Tesla cut prices across its lineup in China last month as competition and economic pressures continue to intensify. The reductions partly reversed several hikes by Tesla earlier this year and are expected to help win more customers.
Shares of TSLA are down 1.16% in pre-market trading on Thursday.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.