While operations in its Fremont factory were slowed down in the second quarter due to the COVID-19 pandemic, Tesla Inc's TSLA Gigafactory Shanghai kept churning out Model 3s.
Tesla fan site Tesmanian compiled data of Tesla's June Model 3 sales numbers and found that the company sold far more electric cars than any other company in Shenzhen, Beijing and Shanghai. This is despite the fact that year over year, electric vehicle sales are down 34.9%.
Tesla sold 1,651, 1,808 and 2,790 Model 3s in each city, respectively, versus the next highest of 580, 373, and 332 vehicles of each leading competitor per each city.
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Tesmanian collected the data via the China Banking and Insurance Regulatory Commission (CBIRC) license plate report.
Benzinga's Take: Tesla's domination of EV sales continues in China after the construction of the company's Gigafactory Shanghai. Tesla has been a popular brand in China, but now that they have a factory in the country, the company was able to lower prices and take advantage of local tax incentives.
Photo courtesy of Tesla.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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