Tesla's domestic sales in China fell sharply in October

Tesla's domestic sales in the Chinese market were 8,817 units in October. This figure was recorded as the lowest level seen since July 2022. According to data from the China Passenger Car Association (CPCA), these sales decreased by 66% compared to the same period last year. Thus, the company's contraction in the Chinese domestic market became evident. On the other hand, Tesla's wholesale sales increased by 10.3% in the same period. The main reason for the divergence between domestic sales and wholesale sales was explained as the company directing most of its production in China to exports. The data reveals that Tesla is directing its production capacity in China to export channels rather than the domestic market. Despite the sharp decline in domestic sales, the increase in wholesale sales is considered a reflection of this strategy. Not investment advice.

📊 TSLA — Piyasa Yorumu

▼ down · 55%

News that Tesla's domestic sales in China fell sharply in October points to demand weakness in one of the company's largest markets and could be viewed as a negative near-term catalyst. However, the price has risen more than 11% over the past 24 hours and the RSI stands at 57, meaning it is not in overbought territory; this suggests that part of the news impact may already be priced in. The MACD is above its signal line and the price is above the SMA20, so short-term momentum still appears positive. Nevertheless, the price is trading just below the SMA50, indicating that pressure could build in the resistance zone. Overall, although the news is negative, given the strong momentum I am keeping the downside expectation limited with moderate confidence.

RSI 14

57.0

MACD

1.23

24h Δ

11.28%

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