Tesla November sales for China-made vehicles up 89.7% Y/Y

According to CnEVPost, Tesla (TSLA) sold a record 100,291 China-made vehicles in November, up 89.73% Y/Y and up 39.87% from October.

Between January-November, company sold 655,069 China-made vehicles, up 62.86% Y/Y.

Shanghai plant produces the Model 3 sedan and Model Y crossover. Cars for export are produced in the first half of each quarter, and cars for local delivery in the second half. Of 71,704 vehicles sold by Tesla Shanghai in October, 54,504 were exported and 17,200 vehicles were delivered locally.

Purchase subsidies offered on models below RMB 300,000 will expire at the end of the month. The expected delivery dates for the full Model 3 and Model Y lineup in China changed to December 2022. Prior to this change, all of these models showed expected delivery dates of 1-5 weeks.

The change of delivery date to December 2022, is a relief for Chinese customers as they can continue to receive subsidy if they place their order now.

Contributor comments on the stock: ‘Tesla: 3 Reasons Why Semi Sales May Be Slow’

SA Author gives the stock a Hold rating, while Wall St. analysts give it a Buy rating with target price of $279.94; and Quant rating of Hold with lowest factor grades given to valuation and momentum.

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