Insider: Tesla Sales In China Are Expected To Rebound Sharply in August
Tesla sales in China are expected to set a new monthly record in August, Global Times reports, based on insider information.
Tesla's electric vehicle sales in China in August 2021 and September is expected to grow and may set a new monthly record of over 30,000 units, despite the EV maker's sluggish July sale, according to industry insiders.
July 2021 Tesla sales in Chinese market plunged 69 percent to 8,621 vehicles, from 28,138 in June, according to the China Passenger Car Association. The poor performance has drawn attention from the industry and media about whether Chinese market will give way to other markets such as Europe.
"Tesla's sales drop in the Chinese market was because it needs to ensure adequate supplies abroad where the demand was huge," Cui Dongshu, secretary-general of the China Passenger Car Association, told the Global Times on Wednesday, noting that Tesla needs to balance demand from both China and overseas in order to maximize global sales volume.
But, the Chinese EV market is still very important for Tesla. "Sales in China are expected to rebound sharply in August, greatly exceeding that of July, and could reach a record 30,000 by September," Cui predicted.
Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.