Teslas orders in china had crashed 64% this April despite a large recovery in their electric vehicle market. This news was revered by Tesla stock bears (those who want the stock to crash) because they thought this meant the possible downfall of the shanghai gigafactory. However, according to the latest Tesla data we can see that this is in fact not true and Tesla is actually in great shape.
In April Tesla only sold 3,635 Model 3 vehicles, down 50% from the units that were actually sold in March. This data was delivered by the China Passenger Car Association (CPCA). However what this does not show is that Tesla received close to 15k orders in April, most of the being long-range Model 3 models.
Does this mean Teslas China’s future is possibly saved from doom or is this just a small hike in sales for the downturn that will come from the financial recession?