Tesla pushed out 87K vehicles out of the Shanghai plant. The breakdown is about a week away so we dont have in country sales versus exports.
In this video I discuss MoM and YoY numbers and how of the increase. Are we seeing a new level set by engineering updates made in the second quarter.
▶️ 3Speak
I think Tesla looks to be doing great if they are still pushing out these numbers even in these difficult times. I wonder if they can keep this up.
We will see. The export versus in country numbers are usually about a week behind. No idea how many of them were within the country although people do their back of the napkin math.
Unfortunately for Tesla they're offering 0% interest on financing for their vehicles in China and 1.9% financing in the US, so unless those 87K were mainly sold in Europe, I think the actual revenue from those vehicles will be less than in previous quarters.
I don't think other OEMs have set rates so low... Toyota is around 4.99% APR in the US, the average finance rate in China is 3.35% (although the BYD model Atto is 0% too). Tesla is being super aggressive to move their bigger than average inventory.
I think there is a real danger that Tesla grew too fast and has too many factories that will be under utilized as demand for Teslas soften. Under-utilization obviously costs money that they can't make back, especially with such low financing deals.