Tesla’s share price (TSLA) has skyrocketed by more than 3% in today’s pre-market transactions, which also seems to be due to shipments in China, which seems to confuse the market.
Tesla’s share price has plummeted in recent weeks, mainly related to news from China.
First, April deliveries confused people Decrease from about 35,000 units in March to about 25,000 units in April Based on data from the China Passenger Car Association (CPCA).
In addition, CPCA seems to have begun to include exports in the country’s deliveries, which is meaningless and confusing.
CPCA released May data, reporting that Tesla sold 33,463 Chinese-made electric vehicles last month.
However, this number includes 21,936 Tesla vehicles delivered domestically in May and 11,527 electric vehicles manufactured by Tesla in China and exported to other countries at the same time.
The news has boosted Tesla’s share price by more than 3% in pre-market transactions.
Tesla’s stock price last week Tesla’s net new orders in China halved in May..
ElectrekI take the
First of all, I see many people claiming that it proves the report from. information I was wrong about the drop in Tesla’s orders in China last week.
The report said it should be taken with a piece of irony, but this new data from CPCA does not disprove the report.
The CPCA is about Tesla vehicles delivered and produced in China in May, and last week’s report described the increase in new orders.
Net new orders are a better indicator of demand because they are not constrained by production, but most new orders coming in May are likely to not appear in CPCA data until the next quarter is delivered.
However, the report was not accurate.
Again, I don’t think the market should focus too much on Tesla’s monthly performance in a particular market. Because they have too many variables that don’t make much sense in the short term.
At least stick to quarterly trends.
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https://electrek.co/2021/06/08/tesla-tsla-surges-delivery-number-china-amid-confusion/ Tesla (TSLA) Rapid surge in deliveries from China in the turmoil