Elon Musk’s Tesla Inc (NASDAQ:TSLA) reported a 36% year-over-year jump in April sales from its Shanghai factory and filed a new Roadster trademark, but Polymarket bettors still aren’t buying the bull case.
Tesla’s Shanghai Gigafactory produced 79,478 Model 3 and Model Y vehicles in April, up 35.96% year-over-year. The figure counts cars shipped from the factory to dealers for sale within mainland China and for export to overseas markets.
“Tesla is still a strong contender in China’s EV sector, and monthly sales of more than 70,000 units is impressive,” said Eric Han, a senior manager at Shanghai consultancy Suolei. “But it may face difficulties in sustaining its growth momentum in the coming months when brand new models developed by Chinese carmakers attract more Chinese buyers.”
Chinese rivals BYD Company (OTC:BYDDY), Nio Inc (NYSE:NIO) and Xpeng Inc
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