- Piper Jaffray estimates Tesla’s third quarter deliveries – a closely watched measure of the company’s sales – in China are up more than 175% compared to the same period last year.
- “Even in a market like China, where EV models are commonplace … Teslas are among the only electric vehicles (EVs) that consumers actually want to buy,” Piper Jaffray said.
- Elon Musk’s electric automaker is expected to report third quarter deliveries on Oct. 3, a metric Wall Street is closely watching ahead of Tesla’s earnings.
Tracking sales in China can often be opaque but one analyst believes data on automotive insurance registrations reveals that Tesla has strong demand in the key market.
“Tesla’s deliveries to real, actual people are still rising at a triple-digit pace, despite being hamstrung by import duties, a flagging auto market, and a historical inability to tap EV subsidies,” Piper Jaffray analyst Alexander Potter wrote in a note to investors on Thursday.
Potter’s research found that electric vehicle sales in China are increasingly made by unidentified “mystery buyers,” as well as fleets. However, in sales to actual Chinese consumers, Pipper Jaffray says Tesla has been steadily increasing its market share.
The firm estimates Tesla’s third quarter deliveries – a closely watched measure of the company’s sales – in China are up more than 175% compared to the same period last year…
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