Tesla Inc. (NASDAQ:TSLA) wholesale sales figures rose in the Chinese market as the automaker grapples with global declines.
9.32% YoY Increase
The automaker’s wholesale sales from its Gigafactory in Shanghai, China, clocked in at 69,129 Model 3 and Model Y units in January, data shared by influencer Roland Pircher via a post on the social media platform X, showcased on Wednesday.
The figure represents both domestic sales in China and exports by Tesla. While the figure showcases a 9.32% YoY growth in Tesla sales from last January, sales are still down almost 28.9% from last month, the influencer said in his post.
Tesla Sales Fall
The company is struggling to boost demand in multiple European markets, with sales in France falling over 42% last month to 661 units, the lowest in more than three years. Tesla’s registrations in Norway, too, dropped almost 90% over the same period.
Tesla sales also fell in the overall European market. The EV giant recorded 35,280 sales in December, which was down 20.2% YoY from last year’s 44,190 units it sold during the same period in the region.
New And Old Models
Meanwhile, the automaker unveiled a new trim level of the Model Y crossover SUV, dubbed the Model Y AWD, available at a retail price of $41,990 with an EPA-certified range of 294 miles on a single charge.
However, the new Model Y trim level is also coinciding with Tesla announcing the phasing out of the premium Model S and Model X units from its lineup, confirmed by CEO Elon Musk during Tesla’s Q4 earnings call last week.
The move is aimed at boosting Tesla’s Optimus exploits, which Musk says can help humanity build civilizations on other planets in the future, touting the robot as a von Neumann machine.
Benzinga Edge Rankings show that Tesla scores well on the Momentum metric and offers a favorable price trend in the Long Term.
Price Action: TSLA declined 0.53% to $419.74 during pre-market trading on Wednesday.
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Photo courtesy: Del Harper via Shutterstock
