Tesla China EV Sales Break Eight-Month Losing Streak

Tesla, Inc. (NASDAQ:TSLA) is among the 11 best places to invest money without risk. As the data from the China Passenger Car Association reveals, the China-made EV sales of Tesla, Inc. (NASDAQ:TSLA) surged by 0.8% in June from the past year, ending the eight-month-old streak. Although these sales showed a quarterly decline due to the tough competition from Chinese rivals offering low-cost alternatives, the deliveries of Model 3 and Model Y vehicles actually rose.

All thanks to its Shanghai factory, the deliveries, including China sales and exports to Europe and other markets, witnessed a surge of about 16.1% from May to 71,599 units. The global sales for the company’s biggest threat, BYD, were recorded at 377,628 units last month. When compared to Tesla, Inc. (NASDAQ:TSLA), the YoY rise of 11% seems so little for BYD.

But things get interesting when we consider the anticipated guidance for both companies. While Tesla’s EV sales are expected to witness a drop of 10%, marking 13% of the world’s sales, BYD’s sales are anticipated to rise by 45%. Some analysts expect Tesla to cut prices, and when that happens, the competition can already be seen as cooling off. For the giant that Tesla, Inc. (NASDAQ:TSLA) is, the stock has full investor faith in the direction Musk is taking the company.

Tesla, Inc. (NASDAQ:TSLA) is a Texas-based developer and seller of electric vehicles, and energy generation and storage systems across the United States, China, and the globe. Founded in 2003, the company operates through two segments: Automotive and Energy Generation and Storage. The company is committed to accelerating the transition to sustainable energy.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None.