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Tesla’s China-made Vehicle Sales Fall M/M in February — Report
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Tesla’s China-made Vehicle Sales Fall M/M in February — Report

The China Passenger Car Association (CPCA) said that Tesla, Inc. (NASDAQ: TSLA) sold 56,515 vehicles, manufactured in China, in the month of February, Reuters reported. The figure includes 33,315 vehicles that were exported.

The company’s China-manufactured vehicle sales stood at 59,845 in January.

Based out of Texas, Tesla produces and sells EVs, solar energy generation systems and energy storage products. It also operates a network of vehicle service centers and Supercharger stations.

Wall Street’s Take

On March 8, Patrick Hummel from UBS (NYSE: UBS) maintained a Hold rating on the stock with a price target of $1,000 (21.3% upside potential).

Additionally, Wedbush analyst Daniel Ives reiterated a Buy rating on Tesla with a $1,400 price target (69.8% upside potential).

Overall, Tesla has a Moderate Buy consensus rating based on 15 Buys, 7 Holds and 6 Sells. The average TSLA price target of $1,068.40 implies 29.6% upside potential. Shares have lost 31.3% year-to-date.

Website Traffic

TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (NYSE: SEMR), the world’s biggest website usage monitoring service, offers insight into Tesla’s performance.

According to the tool, compared to the previous year, Tesla’s website traffic registered a 36.6% decline in global visits year-to-date.

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