EV major, Tesla (NASDAQ: TSLA) delivered 75,842 China-made vehicles in April, a fall of 14.7% from March, according to the data from the China Passenger Car Association (CPCA). However, the delivery numbers for EVs manufactured in China in April were still a huge jump from the same period last year when Tesla delivered only 1,512 China-made Model 3 and Model Y vehicles as the company’s manufacturing plant in China was plagued by COVID-19-related lockdowns.
However, Warren Buffet-backed BYD is giving stiff competition to Tesla in the world’s largest automobile market as it sold 209,467 vehicles in April, up by 1.6% month-over-month.
Meanwhile, Tesla has also raised the prices of its Model S and Model X cars in China by 19,000 Chinese yuan or $2,749 across both the models and their various versions. Earlier this week, the company also raised the prices for its Model 3 and Model Y in China, the U.S., and other markets.
Analysts are cautiously optimistic about TSLA stock with a Moderate Buy consensus rating based on 15 Buys, 12 Holds, and four Sells.
