Tesla's China sales have best month of the year in August By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 03 2024
0mins
Source: Investing.com
Tesla's Sales Performance: Tesla achieved its best sales month in China for 2023, selling over 63,000 cars in August, a 37% increase from July, although still below last year's figures. The company faces stiff competition from local rivals like BYD, which reported record sales of 370,854 vehicles.
Factors Influencing Sales Growth: Recent sales improvements for Tesla are attributed to zero-interest loan offers, eligibility for government purchases, and regulatory approvals that allow access to previously restricted areas. Additionally, there has been significant growth in sales from tier-three cities, with plans to introduce a new six-seat Model Y variant by late 2025.
Analyst Views on LI
Wall Street analysts forecast LI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LI is 21.12 USD with a low forecast of 17.00 USD and a high forecast of 32.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
2 Buy
8 Hold
1 Sell
Hold
Current: 16.690
Low
17.00
Averages
21.12
High
32.00
Current: 16.690
Low
17.00
Averages
21.12
High
32.00
About LI
Li Auto Inc is a holding company primarily engaged in the design, development, manufacturing, and sales of smart electric vehicles. The Company’s main products include the Li L9, Li L8, Li L7, Li L6, and Li MEGA, encompassing six-seat sport utility vehicles (SUVs), five-seat SUVs, and multi-purpose vehicles (MPVs). The Company is also engaged in research and development activities relating to intelligent vehicle technologies, the design, development and manufacturing of various components and systems for new energy vehicles, and the provision of value-added services such as charging, vehicle maintenance and repair. The Company mainly conducts its businesses within domestic market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
