Is Tesla Inc. [TSLA] Stock Still Just for Futuristic Bulls?

Tesla’s sales in China grew by over 200 percent during the coronavirus outbreak, says a filing Monday.


A Backdoor Way To Profit From Today’s Crypto Bull Market

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free. .

Sponsored


The electric car maker’s sales in China last year were approximately five percent, or about $6.66 billion out of a $31.54 billion total.

In 2019, Tesla sales in China reached $2.98 billion, or just 12 percent of the $24.58 billion in total sales.Tesla’s biggest market remained the U.S., where sales grew by 20% to $15.21 billion last year and accounted for roughly half of total sales.

Tesla began ramping up production in Shanghai last year, supplying the Chinese market with Chinese-made cars.

China’s Passenger Car Association said that the company’s Model 3 would be China’s best-selling electric vehicle in 2020. Tesla started supplying a brand new Chinese-made Model Y this year to local customers.

However, electric car startups in China like Nio and Xpeng have been making serious headway against Tesla in the local market as regulatory scrutiny has grown.

On Monday, the Chinese State Administration for Market Regulation (SAMR) announced that the SAMR and four other government departments gathered with Tesla’s local subsidiaries to discuss an increase in consumer reports of vehicle problems.

Several incidents in the last few weeks have made headlines on Chinese social media, including an exploding Tesla Model 3 in a Shanghai parking garage in January, and the Chinese authorities have said almost 36,000 Model 3s need to be recalled due to a touchscreen failure.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Lloyd Martinez
I am resigned and living in South Florida. I delighted in a fruitful and fluctuated vocation as a writer, business financier, venture broker, city treasurer, speculation counselor, NASD mediator, specialist, and tenured college educator. My scholarly accreditations incorporate having earned an experts degree in Economics and a doctorate certificate in Finance.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Hot Topics

Does Gevo Inc. (GEVO) look like a good stock to buy?

HC Wainwright analysts upgraded their outlook for biofuel producer Gevo Inc. (NASDAQ: GEVO) last week. In the past month, the stock gained 20.97%. In...

Identifying Value and Future Vision in LiveRamp Holdings Inc. (RAMP) Stock

Apple's rejection of these cookies is causing major changes at LiveRamp Holdings Inc. (NYSE: RAMP). On February 16, Ramp shares were selling for $70.89...

Related Articles

Does Gevo Inc. (GEVO) look like a good stock to buy?

HC Wainwright analysts upgraded their outlook for biofuel producer Gevo Inc. (NASDAQ: GEVO) last week. In the past month, the stock gained 20.97%. In...

Identifying Value and Future Vision in LiveRamp Holdings Inc. (RAMP) Stock

Apple's rejection of these cookies is causing major changes at LiveRamp Holdings Inc. (NYSE: RAMP). On February 16, Ramp shares were selling for $70.89...

A New Plant In Germany Will Help BioNTechSE (BNTX) Meet the COVID-19 Vaccine Demand

The company BioNTech SE (NASDAQ: BNTX) started producing coronavirus vaccines at a new facility in Germany, which will help it increase production by around...

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the Newsheater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.