Tesla's China Sales Just Snapped a 2-Month Slump With a 22% Jump. Is the Turnaround Real?
A refreshed lineup and aggressive financing may have helped drive a sharp rebound in the EV maker's May retail sales in China. But the year-to-date trend is still pointing down.
Tesla's China Sales Just Snapped a 2-Month Slump With a 22% Jump. Is the Turnaround Real?
Overview
China retail sales of electric vehicles made by Tesla (NASDAQ: TSLA) reached 47,281 units in May, up 22.5% year over year, according to data released Monday by the China Passenger Car Association. The figure snapped a two-month run of year-over-year declines and marked the electric-car maker's first year-over-year increase in the world's largest auto market since February.
It was also a steep jump from a weak April, with retail volume rising about 82% from the prior month, when Tesla's China sales had sagged to fewer than 26,000 units.
Details
So, is this the start of a genuine demand recovery in China, or a one-month bounce propped up by incentives and a refreshed lineup?
Source
Originally published at www.fool.com.
