Sales reports from the China Passenger Car Association (CPCA)

Tesla Reports 537,000 Global Deliveries, 16% Increase, Dominates EV Market in China

Dec 15, 2024, 06:13 AM

Tesla Inc. is experiencing positive momentum in its global orders, particularly outside of China, with a reported 16% quarter-over-quarter increase. This translates to approximately 537,000 deliveries, surpassing the street's estimate of 510,000 and exceeding the significant threshold of 515,000 that analysts have been monitoring. The company's strong performance in China is also noteworthy, as it remains the only foreign brand effectively competing against domestic manufacturers. Chinese consumers have shown a strong preference for Tesla vehicles, contributing to the brand's dominance in the electric vehicle market. In the broader context, younger companies such as BYD, Xpeng, and Li Auto are also making significant strides in China's automotive sector, particularly in electric vehicles and trucks. However, challenges such as foreign tariffs and quality perceptions may pose obstacles for these companies as they expand into the trucking industry.