Tesla Denies Reports It Sold Just 211 Cars in China Last Month

By Ryan Gandolfo, November 28, 2018

0 0

Tesla’s share price dropped 1.8 percent on Tuesday after reports surfaced that the company had sold just 211 cars in China last month.

An official from China Passenger Car Association (CPCA) shared the extremely low sales figures with Reuters on Tuesday. A Tesla spokesperson based in California denied the reports, saying “this is wildly inaccurate. While we do not disclose regional or monthly sales numbers, these figures are off by a significant margin,” according to CNBC.

READ MORE: Elon Musk Spotted Grabbing a Jianbing in Shanghai

As one of the early victims of the US-China Trade War, foreign-owned automobile companies have had to navigate turbulent waters in the Chinese market.

In July, China placed a 40 percent tariff on American made vehicles imported to China, forcing Tesla to hike up the price of its Model S and Model X by RMB150,000 to RMB250,000. 

Just last month, Tesla signed an agreement with the Shanghai government to build its first Gigafactory outside the US. The company said in a statement that they plan to produce the first cars at the Shanghai facility about two years after construction gets underway.

READ MORE: Elon Musk in Shanghai for Opening of China's First Tesla Factory

[Cover image via @jpvalery/Unsplash]

more news

NBA's James Harden Gets into Trouble with Shanghai Traffic Police

NBA Superstar James Harden concluded his China summer tour with a lane violation.

China Issues Travel Warnings for the United States

China has recently been on an ‘alert frenzy.’

PHOTOS: Live Music, Cultural Dances and More at Belt and Road 2019 Expo

Running from May 31 to June 2, the Expo housed just under 270 businesses looking to either break into the Chinese market or cement their existing trade deals.

KFK: The Trade War and Progress in Taiwan's Standup Scene

Check out this week's Kung Fu Komedy podcast!

Uncovering China's Illegal Dinosaur Fossil Trade

An inside look at China’s illegal fossil trade.

Elon Musk Returns to Shanghai for Groundbreaking of China's First Tesla Factory

Elon Musk is back in Shanghai but this time it's not just for the jianbing.

7 Biggest China News Stories of 2018

It's been a wild year in news.

Chinese Stocks Plummet for 2nd Time in a Week

China’s CSI 300 Index, which gathers the top 300 stocks on the Shanghai and Shenzhen stock markets was down by 4.64% at 3pm.

0 User Comments

In Case You Missed It…

We're on WeChat!

Scan our QR Code at right or follow us at Thats_Shanghai for events, guides, giveaways and much more!

7 Days in Shanghai With thatsmags.com

Weekly updates to your email inbox every Wednesday


Download previous issues

Never miss an issue of That's Shanghai!

Visit the archives

Get the App. Your essential China city companion.