Tesla To Deliver 53,000 Cars In China This August, Deutsche Bank Forecasts, Sees Growth For Rival Nio But Decline In Sales For BYD
Deutsche Bank analysts forecast Tesla will deliver over 53,000 cars in China this August, a 29% increase from July but a 17% year-over-year decline. Nio is expected to deliver over 32,000 units, marking a 59% year-over-year increase, while BYD's sales remain flat with a 7% decline. Tesla's recent sales in China dropped 27.5% year-over-year, despite a 47.9% improvement from the previous quarter. The company is also facing inventory issues for the Model Y in the U.S. and a significant drop in UK sales.
Deutsche Bank analysts have released delivery estimates for Tesla Inc. TSLA, Nio Inc. NIO, BYD Co. Ltd. BYDDY BYDDF, for August.
Tesla Deliveries To Grow Over July
The analysts predict Tesla would deliver over 53,000 units in China for August, CnEVPost reported on Wednesday, citing a note released by Deutsche Bank. The deliveries, while recording a 29% surge over last month, still illustrate a 17% YoY decline for Elon Musk's EV giant.
The analysts predict the Model Y L, a six-seater variant of the Model Y crossover SUV, is the primary driver behind the growth, citing feedback from local Tesla dealers in China.
Nio Continues Growth, BYD Deliveries Remain Flat
Elsewhere, Nio is expected to deliver over 32,000 units for August, recording a 59% jump over the previous year. Nio's delivery prediction, if accurate, would represent a new monthly record for the company, up from December 2024's 31,138 units.
BYD, meanwhile, will continue to register a flat sales performance, but a 7% YoY decline for the Chinese EV giant. BYD's 345,000 sales figure includes cumulative sales for the company's EVs as well as PHEVs or Plug-In Hybrid Vehicles.
Tesla Sales Fall In China Amid Model 3+ Sedan Release
The news comes as Tesla recorded a 27.5% YoY drop in Chinese sales during the week from August 18 to August 24, registering 10.3k new units in China. Despite the decline, Tesla's performance still showcased a 47.9% improvement over the previous quarter.
Tesla also released the Model 3+ sedan in China, which is a long-range trim of the Model 3 with over 500 miles of range on a single charge with an LFP battery in tow.
Model Y's Low U.S. Inventory, Falling Sales Globally
The company is also reportedly running low on inventory for the Model Y crossover in the U.S., with there being no available units of the SUV within 200 miles of Austin, Texas.
On the other hand, Tesla's sales woes continue to plague the automaker, with the company recording a 60% drop in UK sales, while also offering $0 down leases on its used Model 3 and Model Y units in Texas and California.
Check out more of Benzinga's Future Of Mobility coverage by following this link.
- Uber CEO Says Building Camera-Only Self-Driving System ‘Very Difficult'—Elon Musk Responds, ‘Turned Off The Radars In Teslas To Increase Safety'
Image Via Imagn
