Tesla China sold 65,814 vehicles in March, or 182,174 units for the first quarter of 2022
According to data from the China Passenger Car Association (CPCA), Tesla China sold 65,814 vehicles in March 2022, ending the month and quarter strong. For comparison, Tesla China reported wholesale sales figures of 59,845 units for January 2022 and 56,515 vehicles sold in February 2022.
In total, Tesla China sold 182,174 units in Q1 2022. Overall, Tesla shipped 182,174 in Q1. Thus, vehicles made in China accounted for 58% of Tesla’s total number of deliveries in the first quarter of 2022, revealing Giga Shanghai’s significant contributions this year so far.
Stellar figures from Tesla China in March suggest that China’s Covid-19 troubles haven’t affected Giga Shanghai production to any great degree. Usually, Tesla dramatically increases deliveries at the end of each quarter, but Giga Shanghai was unable to do so this year due to the Covid-19 outbreak in China. Tesla, along with several other companies, is pushing for the Chinese government to ease transportation restrictions as COVID-19 cases rise again.
Still, Tesla managed to meet Wall Street expectations for the first quarter of 2020. TSLA bulls seem confident that the company can sustain its performance throughout the year.
“So the last week of the quarter where they usually cram in all these local deliveries, you know, to try and make some numbers. And so this has been a critical week. They have been closed. It really shows that they were ahead of this before this, which was basically our expectation. More generally, we’ve also seen Tesla perform incredibly well in a challenging supply chain environment,” noted Deutsche Bank analyst Emmanuel Rosner.
Tesla will hold an earnings call on Wednesday, April 20, 2022 at 4:30 p.m. Central Time (5:30 p.m. Eastern).
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