Tesla China Deliveries To Jump 27% In September To 72K, While BYD To Deliver 380K Amid Target Cut, Predicts Deutsche Bank
Deutsche Bank analysts predict that Tesla will deliver 72,000 units in China in September, a 27% increase from August. BYD is expected to deliver 380,000 units, a 2% rise but a 9% year-over-year decline, following a cut in its annual sales target. Li Auto and Xpeng are also set to see growth, with Li Auto delivering about 35,000 vehicles and Xpeng over 40,000, marking a new record for the latter.
Analysts at Germany's Deutsche Bank have predicted September delivery figures for automakers in the Chinese market, illustrating growth for multiple companies in the region.
Tesla To Deliver 72K Units
The analysts predict that Elon Musk's Tesla Inc. TSLA will deliver around 72,000 units in the Chinese market during September, CnEVPost reported on Wednesday. The figure represents a 27% increase in deliveries compared to August.
Tesla has recorded strong growth in the Chinese market during September, with the latest data suggesting that the company recorded 17.3K insured registrations during the third week of September. Tesla's Model Y L, a six-seater variant of the Model Y SUV, has been a strong performer for the EV giant.
BYD To Deliver 380K Units
Elsewhere, the analysts predict Tesla rival BYD Co. Ltd. BYDDY BYDDF will deliver over 380,000 units in the Chinese market, presenting a 2% increase compared to last month, but still illustrates a 9% YoY decline. BYD recently shared that it was slashing its annual sales target to 4.6 million units from 5.5 million units, a 16% reduction.
It's also worth noting that Warren Buffett's Berkshire Hathaway recently exited its entire BYD position. Berkshire Hathaway's former vice chairman, Charlie Munger, had pushed for the company to invest in BYD back in 2009.
Li Auto, Xpeng Also Record Growth
Li Auto Inc. LI will deliver about 35,000 vehicles in September, adding to a month-on-month increase of about 23 percent, but it also represents a decline of 35%.
Meanwhile, Xpeng Inc. XPEV will deliver over 40,000 units during September, the analysts say. The figure represents a new delivery record for the company and a 6% month-on-month increase.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
- Tesla Sued By Multiple Owners In China For Failing To Deliver FSD: ‘Elon Musk Claimed That…’
Photo courtesy: VTT Studio / Shutterstock.com
