Thursday, March 4, 2021

Tag: Goes Full-China with Design Center

Tesla, Hit by Sagging US Sales, Goes Full-China with Design Center, Loans & Factory

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by Wolf Richter, Wolf Street:

This move to China makes sense for a niche automaker struggling mightily in the US. But headwinds in China are even stronger than in the US.

Tesla doesn’t disclose deliveries in the US, unlike other automakers. It only discloses global deliveries. We have to look at other data to see how Tesla is doing in the US; and in the US, deliveries have been plunging in recent months. In California, by far Tesla’s largest market in the US, registrations of new Teslas in the fourth quarter plunged by 46.5% to just 13,584 vehicles, from 25,402 vehicles in the same period in 2018. Model 3 registrations plunged by about half to 10,694 vehicles.