Tesla Sales Rise in China in June

Rob Maurer

Tesla China Sales in June

Reuters is reporting that Tesla sold 14,954 Shanghai-made Model 3 vehicles in China in June, according to the China Passenger Car Association (CPCA). These numbers were up from 11,095 vehicles in May, with around 3,635 units reported for April. Because the CPCA releases different types of monthly reports, there is some lack of clarity on what each of these reports indicates. Some reports refer to production, others to deliveries, and the sources of the data are often unclear.

Previous production reports of 11,211 vehicles for April and 11,501 for May do not match the numbers from Reuters' report today, so this appears to be a delivery number possibly collected through transaction or registration data.

Twitter user @Dkurac, who has shared CPCA reports in the past, recently tweeted that Tesla produced 10,393 vehicles in June. Without other reports, it would be wise to wait for more confirmation. Dkurac also reports on a scheduled press conference for June sales and production results on Friday, July 10, at 2:00am EDT which may provide more information. If the 10,393 production number is accurate, this suggests a 2,400 vehicle per week production rate, lower than reported production in April and May which came to 2,600/wk and 3,500/wk excluding known shutdowns.

Nevertheless, Piper Sandler analyst Alex Potter who follows the market in China closely, shared in a note today that Tesla still appears to be producing as fast as possible in Shanghai.

“Overall, it still looks like Tesla is maxing out capacity at its Shanghai factory." - Alex Potter

Panasonic's CEO Comments on Elon Musk

Panasonic’s CEO Kazuhiro Tsuga was invited to speak at a conference for young entrepreneurs earlier this week, and ended up discussing Tesla CEO Elon Musk. Channel News Asia reported on some of the comments.

"I believe only geniuses can hold onto big visions, and a genius I know is Elon Musk." - Kazuhiro Tsuga

Tsuga explained that Musk's sense of vision can lead to overly optimistic conclusions because Musk's mindset pushes through inconveniences rather than being dismayed by them.

"Compared to that vision, most things don't really matter." - Kazuhiro Tsuga

Panasonic and Tesla recently reached a new agreement on pricing through Q1 of 2023.

Writing Assistance by Pranshu Agarwal.

Disclosure: Rob Maurer is long TSLA stock and derivatives.

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