The Chinese Passenger Car Association (CPCA) said on Monday that Tesla sold 59,845 Chinese-made cars in January. Tesla produces Model 3 sedan and Model Y sports multifunctional cars in Shanghai, and sold 70,847 Chinese-made cars in December. The Tesla Model Y topped China’s premium SUV segment in 2021 with approximately 169,853 units sold from January to December last year.
Tesla China Delivery Numbers (Wholesale Numbers)
- Jan 2020: 3,563
- Jan 2021: 15,484
- Jan 2022: 59,845
Last December, Tesla sold 40,500 Model Y units, earning second place in general SUV retail sales.From January to December 2021, the company sold 169,853 Model Y vehicles, placing it in ninth place in the CPCA’s overall SUV retail sales rankings. CPCA said passenger car sales in January in China totalled 2.11 million, down 4.5% from 2021.
In January 2022, the retail sales of passenger car market reached 2.092 million, a year-on-year decrease of 4.4%, down 0.6% from December 2021. In January, there were 290,000 luxury cars retailed, a year-on-year decrease of 5% and an increase of 18% month-on-month. Retail sales of luxury cars increased significantly month-on-month at the beginning of the year, indicating the strong growth trend of traditional luxury cars in the New Year — CPCA reported.
Yesterday, Piper Sandler analyst Alex Potter has increased his Tesla’s price target to $1,350 (from $1,300) while maintaining a Buy rating following a review of Tesla’s 10-K annual filing.
“We are refreshing our model to reflect insights gleaned from the 10-K, as well as an updated forecast for deliveries, capex, and margins. After making these changes, our DCF-based price target is increasing to $1,350, up from $1,300 previously. We are focusing on five key topics: 1) deliveries; 2) gross margin; 3) opex; 4) software; 5) cash flow. See below for a summary of each topic. We delve more deeply on pages 2-8. TSLA remains our #1 pick.”
Last week, around 7,000 Model Y and Model 3 were seen ready to export. The vehicles went to the Luchao Port in Shangai and were produced in Tesla’s Giga Shangai. Recently, Elon Musk has mentioned that Giga Shangai tends to focus on exports in the first half of the quarter before focusing its output on the domestic Chinese market in the second half.
Tesla registered 167,969 vehicles in Europe during 2021, an increase of 70.9% from 2020 and 51% up from 2019. During the year, Tesla sold 26,175 Tesla Model Y, 134 Tesla Model S and 230 Tesla Model X in the European Market.
Revenue rose 65% year over year in the quarter, while net income, at $2.32 billion, was up some 760%, according to Tesla’s statement. The company says they have successfully increased the number of FSD Beta vehicles from a couple of thousand in Q3 to nearly 60,000 vehicles in the US today.
“Our own factories have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue through 2022,” the company said.
Recently,Tesla announced that deliveried 308,600 vehicles in Q4, setting a new record during the last Quarter. In 2021, Tesla delivered a total of 936,172 vehicles in 2021, crushing all the expectations.