Sales of Tesla Try Hard to Make a Comeback after Slump from April
According to the latest reports, Tesla is struggling very hard to make a comeback from low sales in China. The company reportedly had one of the best months back in March when it achieved some of the highest numbers of sales.
The following month, Tesla’s sales experienced a significant drop, turning out to be the month with the lowest sales in 2021 so far. However, Tesla was still able to make a comeback in the month of May in terms of sales.
Unfortunately, the sales it achieved in the month of May was not as high as it had achieved in the month of March. The China Passenger Car Association is the organization that has shared the above information around Tesla’s sales.
The association has also shared the number of car sales Tesla was able to achieve in the month of March, April, and May. The report shows that in the month of March, Tesla had achieved 35,478 sales in China. Then in the month of April, the sales that Tesla achieved were just 25,845, which was almost 10,000 cars less than in the month of March.
Then in the month of May, Tesla made a significant recovery, observing a 29% increase, as it achieved 33,463 sales in the particular month.
However, the sales for Tesla in the month of May are promising despite the current situation Tesla is facing in China. In the past few months, Tesla has come under a lot of pressure and regulatory scrutiny in China. That is because of reports and complaints regarding the failing brakes of the Tesla vehicles.
After the brake failures and customer complaints, another major problem for Tesla is the shortage of semiconductors. Just like the rest of the car manufacturing companies, Tesla has also faced many issues with the shortage of semiconductors.
As a result, the company had to cut down the production of electric vehicles and continue manufacturing the most profitable units.
Despite all the success that has come in Tesla’s way, the company is facing yet another problem, which is pertaining to its share prices. The stock markets show that the share prices of Tesla are constantly dropping where the recent session observed a 0.25% drop.
While the 0.25% drop may seem small, the overall stock price drop Tesla shares have experienced since the beginning of the year until today is 14%.
The report also reveals that in the month of May, Tesla had shipped a lower number of vehicles than it did in April from its Shanghai Factory. In the month of April, the shipped vehicles were 14,174 and in the month of May, the shipped vehicles were 11,527.