Link to join StockHub free investing discord server: Want to join our free STOCKHUB discord chat? Here is the link

Ilan your honor i need the sales numbers out of china they’re talking about a 70% drop in sales you just tell me just it’s you and me no one’s acting this fun do i have to say it i will move to mars with you my word guys some news just came out yesterday and i was like are you flipping my flapjacks because these don’t look flip correctly all right auto group says

Tesla’s china sales plunged companies shares slide this news came out yesterday tesla’s vehicle sales in china saying 70 percent last month from a year ago they said this came out of reuters okay the country’s passenger car association told reuters on tuesday underscoring how the china-us trade war is hurting the us electric carmaker is tesla shares fell on the

Day obviously hours later the company responded from its headquarters in california calling the industries group report wildly inaccurate wildly inaccurate an official from china passenger car association said the data from the industry bodies showed tesla sold only 211 and the world’s largest auto market in october 211 like like i could understand what everything

That’s been going on with the trade war with the tariffs i could understand if tesla had a slight decline or adi cardin of some kind maybe let’s say even 10% or something like that in terms of china sales because remember they’re not selling model 3 there yet they’re supposed to start either the first half of 2019 at some point right so i can see maybe the sales

See also  6 Rich-Person Decisions I Made For Under 0

Fell a little bit but 70 percent that’s like falling off a cliff and massive way right that’s a little insane out there okay tesla representatives in china did not respond to repeated calls and written requests man they’re like stalkers for common during the asia workday later in a california-based spokesman issued a written statement saying tessa disputed the cpc

A’s data he did not provide internal sales figures which was good he shouldn’t have this is wildly inaccurate he says while we do not disclose regional or monthly sales numbers these figures are off by a significant margin he said in the statement the electric carmaker which imports all the cars it sells in china as of now set in october that the tariff heights on

Auto imports were hammering its sales there in july beijing raised tariffs on imports of us autos to 40 percent amid a worsening trade standoff with the united states 40 percent guys that is steep especially on cars that are you know 60 80 $100,000 like 40 percent is insane now this news just came out in the middle of the night last night wm motor ceo tesla’s report

Is seventy percent drop in china sales is misleading information an official from the passenger car association told reuters on tuesday that tesla sales had dropped 70 percent but speaking of cnbc’s east tech west conference in nasa district of zhongshan china wmo ceo freeman shen called the report misleading information don’t read too much into these reports he

Says i doubt that number because as a person who has been working in the chinese auto industry for many years the chinese passenger car association is not always accurate okay he called it misleading information so needless to say it’s very very very much unlikely that tesla car sales or vehicle sales in china fell 70 percent last month they could have fallen some

See also  Improve Your Credit Score with Authorized Users and Tradelines | BeatTheBush

You know percent maybe 10% maybe 20% but 70% it looks like that’s just a ridiculous number according to tesla representatives according to this gentleman who’s been the auto industry out of china for a long long time sometimes they’re just very inaccurate some of those readings out of china all right know tesla they cannot wait to get basically the shanghai factory

Up and running they secured laying back in around mid-october alright they’re gonna try to get that factory built as fast as possible and i think is very key because we don’t know how long this trade war is gonna keep going the trade war in some terms there’s probably gonna keep going for quite a while at least it looks like it adds up now maybe they can get a

Little deal done you know here and there hopefully over the next let’s say six months or so but at least as it looks right now a lot of these tariffs are probably gonna stay on a 40 percent rate is so unrealistic if you want to try to sell massive amounts of cars in in china like a 40 percent tariff is insane right so you know tesla’s got to get that factory built

As soon as possible they would love to at least get it you know partially up and running within a year or two so if that’s possible that’s great we we know the chinese can build fast man they need to get that factory up and running because you know for chinese consumers a 40% tariff on these cars had already their price points right unless you are part of the 1%

See also  tesla - game over

Of china or maybe even like the 1% of the 1% like a test was just so unrealistic to afford because they’re costing a hundred thousand plus dollars over there if not you know 150 thousand dollars when you look at these tariffs applied on top it’s just it’s just way way way too much guys so anyways i would love to know your guy’s opinion down there on tesla in the

Comment section as always thank you for watching and have a great day

Transcribed from video
TESLA CHINA SALES DOWN 70%?! By Financial Education

Scroll to top