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Tesla sees increase in Chinese vehicle deliveries

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  • TSLA

Yahoo Finance's Brian Sozzi and Julie Hyman discuss Tesla's latest EV delivieries numbers in China.

Video Transcript


JULIE HYMAN: This is "Yahoo Finance Live." Let's get a check on some of the movers and trending tickers for you from yahoofinance.com. We start with Tesla here this morning, Brian Sozzi.

And that's as we got the China deliveries from the company. So domestic shipments in China of 52,135 last month. So showing some better momentum over the past few months in China for Tesla.

And this is important. I mean, obviously, China is an important market for all of the automakers. But Tesla had had some recent stumbles there. There had been some protests regarding the automaker. There had been some questions over its safety.

And so this seems to represent a little bit of a comeback. It was, perhaps, expected, but nonetheless, maybe some relief for Tesla in China.

BRIAN SOZZI: Yeah, the trend is your friend here. And this-- in the case of Tesla here, Tesla sold 44,000 cars in China last month. I mean, in August, excuse me. So to see that bounce back in September, that is good, and probably being eaten up by the bulls out there.

And speaking of bulls, I always get a giggle. Wedbush analyst Dan Ives, his note on Tesla this morning-- headline is, "China Sales Rocketing Higher for Tesla, Black Clouds in the Rearview Mirror," then goes on to talk about a green wave of electric vehicles coming to market here, in many respects, Tesla leading that still. But of course, as we've learned in the past few weeks, GM and Ford are-- is right on the tails of Tesla.

But at least in the near term, you continue to get some positive news flow on Tesla. They just had that favorable delivery guidance out about a week and a half ago. Now you have the China news. Could be a somewhat good quarter, a good earnings call from Tesla in coming weeks.

JULIE HYMAN: And just getting back to China for a minute and EVs there, to your point, electric vehicles and plug-in hybrid deliveries there last month up 202% year over year to 334,000 units. That's while overall retail sales of cars and SUVs, minivans fell 17% in September. So EVs there, like here, still the minority but growing much, much more quickly. So that's an interesting-- NIO, you've got to mention that one as well, too, when you're talking about electric vehicles in China.

BRIAN SOZZI: Got to mention NIO.

JULIE HYMAN: Is that what you were going to say?

BRIAN SOZZI: Julie-- yeah, fun fact here. You know, the-- we just had the Polestar team on. And they dropped me a line. They would like me to review a new Polestar. And I'm a little hesitant to it because I'm not sure where to plug the thing in.

You know, I think the Polestar looks cool, a little bit like a Volvo. And I understand that they have a tie-up there. But I'm concerned. I have range anxiety, Julie.

I've never had an electric car, really never driven an electric car. And I don't know. Where do I plug it in? I have a one-bedroom co-op. Not like I could run a cord outside my window and plug this thing in.

JULIE HYMAN: Dude, there are plug-ins everywhere now. There are lots of places.

BRIAN SOZZI: All right.

JULIE HYMAN: I don't think you need to worry too much--

BRIAN SOZZI: OK, little concerned, though.

JULIE HYMAN: --about that kind of thing. I'm sure the--

BRIAN SOZZI: All right, I'll do the review.

JULIE HYMAN: I think there's an app for that. And unless you're going on, like, I don't know, a multi-day-long car trip, I think you're going to be OK.