As the Shanghai plant temporarily closed due to a new coronavirus epidemic resumed production, Tesla's number of new car registrations in China rose to a record level last month.
According to data from China Automotive Information Net (CAIN), the number of registered domestic Tesla cars rose to 11,280 in March, five times that in February.
The March figures do not include imported Tesla, because this part of the data is temporarily unavailable. The number of registered Tesla cars imported in March 2019 was 9,273, compared with 182 in February this year.
These figures indicate that Tesla has accelerated in China since the company's new Shanghai plant began production and delivery around the New Year. These figures also prove that in China, the world's largest car market, the demand for cars that plummeted during the epidemic is gradually picking up.
Goldman Sachs analyst Mark Delaney wrote in a report on April 14 that after the Shanghai plant went into operation, Tesla "believe that it can now better enter this huge potential market." He started tracking Tesla in the report, with an initial rating of buy and a target price of $ 864.
Tesla reported better-than-expected delivery data for the first quarter earlier this month, but no breakdown by country or region.
Tesla's factory in China has resumed faster than many factories in the industry, thanks to assistance from local authorities. The company said that after resuming work on February 10, the Shanghai plant has exceeded its capacity before the shutdown.
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