Tesla Motors Inc (NASDAQ:TSLA) faces tough time once again in China. Total registrations of Tesla Model S Sedans in the country has declined 45 percent in February from January 2015. A Bloomberg article reported on the news and discussed about Tesla’s declining registrations in China, in the previous two months.
According to a China focused research firm JL Warren Capital, it’s an indication that the sales remained weaker for Tesla Motors Inc (NASDAQ:TSLA) in China, which is the world’s largest auto market. Total number of registrations for the month of February was 260, which has declined from 469 in January, according to data released on Thursday by JL Warren Capital LLC.
The research firm also indicated a decrease in imports by Tesla Motors Inc into China, in previous two months as compared to last year’s fourth quarter. In February, Tesla Motors Inc (NASDAQ:TSLA) brought 63 all-electric luxury cars to China and just ten cars in the month of January, which has declined from the hundreds per month during last year’s fourth quarter.
“We consider units shipped one of the measures of monthly incremental demand strength in the Model S. The data suggests sharp weakening in the demand,” said Junheng Li, the New York-based firm’s Head of Research.
According to JL Warren’s estimates about Tesla’s registrations, nearly 1,600 cars that Tesla Motors Inc imported in China remain unregistered. Elon Musk, Chief Executive Officer of Tesla Motors Inc (NASDAQ:TSLA), has expressed his frustration towards his company’s sales force in China, as he was not pleased with their performance in that region. Tesla Motors Inc initiated its deliveries there in April last year.
“Even if our sales in China were zero this year, zero, I’m still confident we can do the 55,000 cars. They won’t be zero,” Musk told Analysts on a conference call.
Elon Musk sees Tesla Motors Inc (NASDAQ:TSLA)’s bright future ahead and he also thinks that autonomous cars will be taking over human-driven cars after some time, as they will offer more safety and reliability. Tesla Motors Inc (NASDAQ:TSLA) is determined to achieve its worldwide sales target of 55,000 cars in 2015, which is 74 percent above last year. Even with an unsatisfactory performance regarding sales in China, the company remains confident about its long-term prospects and success in that region.
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