Tesla China-Made Deliveries Rise 16% but EV Exports Decline

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Xiaolu Chu/Getty Images

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Tesla‘s
exports of cars made in China fell to 60 units in March as domestic deliveries more than doubled from February, according to data from the China Passenger Car Association, released on Monday.

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Tesla (ticker: TSLA), the US electric-vehicle maker delivered 65,814 China-made vehicles in March, up 16% from the previous month, according to a report from Bloomberg.

Tesla’s Shanghai factory was closed for the final days of March — it has been shut since March 28 — as the city tackles the spread of rising Covid cases.

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Overall, sales of passenger cars in March in China totaled 1.58 million, down 10.5% from a year earlier, The Wall Street Journal reported, citing data from the China Passenger Car Association. Quarterly sales fell 4.5% to 4.92 million vehicles.

Sales of electric and plug-in hybrid cars in the January-March quarter were 1.07 million vehicles, more than double from a year earlier.

Tesla shares declined 3.7% in premarket trading Monday to $987.34. The stock has fallen almost 3% in 2022.

Write to Lina Saigol at [email protected]

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Credit: www.marketwatch.com /

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