Tesla Inc (NASDAQ:TSLA) (Tesla Inc (NASDAQ:TSLA)) sold fewer Chinese-made cars last month as scheduled disruption at its Shanghai factory hit production.
The electric car maker sold 28,217 Chinese-made electric cars in July – nearly two-thirds less than a month ago.
And the US company exported 19,756 Model 3s and Model Ys from China last month. In June, it sold 78,906 vehicles and exported 968.
Nevertheless, sales of electric vehicles (EV) in China surged in July as production ramped up as Covid-19 restrictions eased and the Chinese authorities offered incentives to boost consumption.
The China Passenger Car Association (CPCA) expects sales of electric vehicles to reach 6mln units in the country this year, driven by strong demand, up from the 5.5mln previously estimated.
Sales of passenger EVs in the world’s biggest car market surged 123.7% in a year to around 564,000 vehicles in July, while overall car sales increased 40.8% from the previous year to 2.13 million vehicles, Technode reported.
Cui Dongshu, CPCA's secretary-general, said government stimulus will boost car sales in August, bringing the market back to growth for the year.
With 163,042 cars sold in July, BYD led the home-grown EV players, with plug-in hybrids accounting for more than half of its sales.
Nio, Xpeng (NYSE:XPEV) and Li Auto delivered 10,052, 11,524 and 10,422 vehicles respectively.
Honda Motor (NYSE:HMC) (Honda Motor (NYSE:HMC)) and Toyota Motor (NYSE:TM) (Toyota Motor (NYSE:TM)) led sales of conventional hybrid cars in China in July, up 81% from a year ago.