The Tesla sales crisis spreads to China as Gigasnghai plant volumes in April were reduced during the 7th consecutive month to the lowest level for years

• Tesla Chinese Factory’s wholesale vehicle shipments dropped 6% compared to AprilBy marking the seventh consecutive year -on -year fall. The nearly 58,500 cars sold at home and abroad is the lowest number in general since 2022, when the factory struggled to operate at all rhythm in the middle of blockages throughout the city after a outbreak of Covid’s OmiCron strain.

The apparent reluctance of Tesla to develop new EV models that can expand the brand to new segments of the global car market, including compact cars, again assault it.

On Wednesday, he reported on Wednesday from China of passenger (CPCA) figures This showed that Tesla sent 58,459 Sedans Model 3 and crossed the Model Y of its Gigasanghai factory last month.

This is 6% less than theAprilwhich had the same number of working days and represents the seventh consecutive monthly monthly decrease. It is also the lowest number in general since 2022, when the factory struggled to operate at all pace Locks throughout the city Following a Covid’s outbreak Omicron tension.

As a result, Tesla’s Shanghai operations went to fourth place in the domestic ranking of the largest EVS and Plug-in hybrid manufacturers, or “new energy vehicles” in China’s speech, so far behind Geely and Saic-Gm-Wuling, as well as GMM. market leader ByD.

$ Tsla 🇨🇳
News: Tesla China recorded 58,459 wholesale in April.

Wholesale = in detail+export pic.twitter.com/tp0ssc5gnr

– Tsla Chan (@tslachan) May 7 2025

“Tesla’s hopes for a sustained rebound in China have faded since the competition is fierce,” Eric Han, lead manager of the Shanghai Suolei, Suolei, Advisory Firm, Suolei,I talked toitMorning Morning of South China. “Their Chinese rivals, their new models and aggressive price strategies have attracted more consumers.”

Demand of Tesla EVS goes down quickly, especially in Europe

Tesla is in no case the only western company that faces completely dominated by local marks. But it is the only one that is worth more than the next ten largest automobile manufacturers.

Usually the first month of each quarter is Shanghai from any third to half its volume for export. Since wholesale numbers include cars made for both national and foreign and Australia markets, the continuous decrease indicates a wider weakness in Tesla’s demand.

$ Tsla China published 7.3K insurance registrations for the week from April 28 to May 4. Given China’s holidays from May 1 to May 5, Tsla Giga Shanghai was only open 3 working days last week. After five weeks, 2Q is -9.1% Qoq and -14.5%.

Separately, the CPCA reported to Tesla Shanghai … pic.twitter.com/bl0crownwww

– Gary Black (@Garyblack00) May 7 2025

The CPCA has not yet provided an exact division, the data reached by the end of the month, but weekly insurance figures outside China indicate that household sales in the quarter are a trend of 15% lower so far.

This comes to the recent data showing the demand of its cars across Europe, 37% crashed to the First quarter and continued to fall In April.

Musk putting all your eggs in 2 baskets: Cybercab and Optimus

Could have been blamed for theModel and ChangoeoverTo a more recent version, which can slow down the assembly lines as the Kinks work. Executives said that the results of the first quarter of Tesla call at the end of last month, however, that the four factories can now manufacture the new model and at the same pace as the old one.

This suggests that the deepest problem is that Musk did not invest in new cars. Instead, it has been forceful that Tesla does not need to copy automobile manufacturers developing different models for different segments, a choice that he thought Nokia offering flips of different sizes. Instead, Tesla only needs one or two murdered products This dominates the market: for Musk, this is the Cybercab robotax and optimus robot.

To reduce demand in China until this duo can launch -Tesla is believed to be preparing a new low cost automatic version, as per Local media reports. Other non -confirmed speculation centers around the possibility of Tesla can prepare a mini and maxi version called the Y, with the latter capable of offering seven seats to house parents, grandparents and children.

Fork on the road for Tesla’s eyes valuing

In any way, Tesla’s assessment seems to be on a road fork to loan a favorite metaphor for the MUSC.

Currently, investors are ready to pay about 100 times for next year’s income based on consensus estimates, usually indicating that the company is ready for explosive growth. This large number of multiple is based on the conviction that Musk’s participation is committed to “ia of the real world”, robotics and the autonomous fleets of route, which will bear fruit.

Whether Tesla sells 410k, 440k or 470k cars P It makes Financial no difference in the context of a MCAP company of 0.9 T.

It is also a bit ridiculous to obsess with vehicles in the same way that robotax is about to launch.

It is like obsessing -for ipod sales after jobs …

– and (@alojoh) May 5 2025

Bears argue that EV sales figures such as China or Europe show that it has set aside its main vehicle business and that it dragged the brand of its company. They doubt that their efforts of the AI ​​will be able to justify the type of assessment of which other magnificent seven stocks can only dream.

Bulls believe that the company is worth more than its current $ 900 million market value, while Apple threw the iPhone.

Ai and robotics now represent Linchpin in Musk’s equity history.

This story originally presented to Fortune.com

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