Edited: Huang Sheng
On the evening of July 2, Beijing time, the three major U.S. stock indexes collectively opened lower, however, Tesla's intraday gains once extended to 10%, and the stock price reached as high as $231.15, a new high since January after the release of vehicle delivery data in the second quarter. The total market capitalization is back above $720 billion.
As of press time, Tesla's stock price rose 8.69% to $228.095, with a market capitalization of $727.44 billion.
On the news side, on July 2, Tesla's delivery data showed that the company delivered a total of 444,000 new cars in Q2, a year-on-year decrease of 4.8%, a year-on-year decline for two consecutive quarters, but better than the market expectation of 439,300, and the total production in Q2 was about 411,000.
On July 2, according to the data of the Passenger Association, Tesla's wholesale sales in China in June were 71,000 units, ranking second. After domestic sales increased by 77% month-on-month in May, Tesla's domestic sales still increased by 7% month-on-month in June; In the second quarter of this year, Tesla's domestic sales increased by 10.2% quarter-on-quarter.
Image source: Passenger Association
According to Tesla's China Weibo on July 1, it will provide consumers with "triple benefits" for car purchases in July: first, for the Model 3/Y standard endurance version, a maximum of 5 years of 0 interest and low interest preferential car purchase policies, with a minimum daily payment of 85 yuan; Second, for the Model 3/Y long-range all-wheel drive version, a preferential policy of up to 5 years of 0 interest and low interest will be introduced, with a minimum daily payment of 107 yuan; Third, the annual interest rate for a limited time in July will be reduced to 0.5% (equivalent to an annualized interest rate of 0.93%).
It is understood that in this preferential activity, the down payment of 79,900 yuan can choose the "5 years and 0 interest" plan: the minimum daily payment of the Model 3 rear-wheel drive version is 85 yuan, and the minimum daily payment of the long-range all-wheel drive version is 107 yuan; The daily supply of the Model Y rear-wheel drive version is as low as 95 yuan, and the daily supply of the long-range all-wheel drive version is as low as 118 yuan. Compared with the previous standard annual rate of 2.5%, the Model Y can save up to more than 26,000 yuan in interest.
Or affected by this news, on Monday, Eastern time, Tesla's stock price rose more than 6% to close at $209.86, the stock price hit a new high in nearly three months, and its market value rose by $38.2 billion overnight.
According to a report by the National Business Daily on June 11, as Tesla's second largest market in the world, Tesla's retail sales in China in the first quarter of 2024 will be 132,400 units, digesting 30.57% of Tesla's global market output, but a year-on-year decrease of 3.64%; According to data from the Passenger Car Association on June 4, Tesla's Shanghai Gigafactory delivered 72,573 vehicles in May 2024, selling more than 55,000 vehicles in China, an increase of 77% month-on-month, a year-on-year increase of 29.9%, and a market share of 3.2% in China. Despite the strong sales figures in May, sales fell by 0.5% in the first five months.
For Tesla's slowdown in sales in China, Western Securities auto analysts believe: "Take the domestic market as an example, some manufacturers basically change once a year, Tesla may only change once in two or three years, although the new Model 3 high-performance version was released in April, but this model from positioning to price, it is difficult to impress consumers." ”
Tesla currently sells the Model 3, Model Y, Model S, Model X, and Cybertruck models, while the Model Y and Model 3 are mainly sold in China, with the Model Y models supporting Tesla's main sales in the Chinese market. Data shows that in the first quarter of this year, Model Y sales in China were about 100,400 units, accounting for 80% of Tesla's total sales.
In addition, in April, Tesla launched a large-scale price cut, reducing the price of all Model 3/Y/S/X models by 14,000 yuan. At the same time, the "zero down payment" or "zero interest for a limited time" policy has been introduced for select models of Model Y.
Daily Economic News Comprehensive Public News, Daily Economic News (Reporter: Dong Tianyi, Liu Xi)
Disclaimer: The content and data in this article are for reference only and do not constitute investment advice. Do so at your own risk.
National Business Daily