According to CnEVPost, the China Passenger Car Association (CPCA) has released a report showing that Tesla (NASDAQ:TSLA) China’s wholesale sales are expected to be 30,000 units in July.
If the report is accurate, it would mean that Tesla’s China-made vehicle sales are down 62% from June’s 78,906 units and 9% from the 32,968 units sold in the same month last year.
The final figure is expected to be released by the CPCA in the next few days.
This headwind follows a brief 2-week shutdown in July at the company’s Shanghai plant to upgrade its production lines. Following the upgrade, Tesla aimed to raise production at the plant to a new record high by the end of July. The goal for the company is the ability to produce 22,000 cars a week in Shanghai, according to a June memo before the shutdown.
Upgrades at the plant are expected to be completed around August 7, when production of the Model Y will increase to 14,000 units per week, and Model 3 production will increase to 7,700 units per week.