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Tesla Gets Orders for 50K Redesigned Model Y in a Day in China
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Tesla, Inc. (TSLA - Free Report) reportedly received 50,000 orders for its redesigned Model Y within 24 hours in China. Per BofA Securities, the updated SUV is priced 5% higher than the previous version. To attract buyers, Tesla is offering a 10,000 RMB discount and a five-year interest-free loan on the previous model.
The refreshed Model Y was unveiled last week in China and select markets supplied by Tesla’s Shanghai factory and its deliveries are anticipated to begin in March. Although it hasn’t launched in Europe or North America, it is expected to debut there in the coming months. While the design update received mixed feedback compared to the Model 3 refresh, Tesla still reported strong order volumes.
With 480,309 units sold over 12 months in 2024, the Model Y became China’s top-selling vehicle, per China EV DataTracker. Despite trailing the BYD Qin Plus sedan for much of the year, TSLA ended December with a surge and sold 61,881 units. This marked the third-highest monthly sales record after November and August of 2022. Tesla China’s December sales totaled 93,766 vehicles, bolstered by marketing efforts, the introduction of the smart summon feature and final payment reductions for the Model Y.
The updated Model Y "Juniper," expected to attract more buyers in 2025, reportedly saw significant pent-up demand due to the year-long anticipation of the refresh. Although Tesla's Chinese website lists March for new orders' delivery, some sources suggest that deliveries may extend into April or May for recent purchases. The performance version of the updated Model Y has yet to be launched.
The Zacks Consensus Estimate for XPEV’s 2024 sales and earnings suggests year-over-year growth of 27.31% and 42.26%, respectively. EPS estimates for 2024 and 2025 have improved 4 cents and a penny, respectively, in the past 60 days.
The Zacks Consensus Estimate for GELYY’s fiscal 2025 sales and earnings suggests year-over-year growth of 66.62% and 149.31%, respectively. EPS estimates for fiscal 2025 and 2026 have improved by 15 cents and 38 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for BLBD’s fiscal 2025 sales and earnings suggests year-over-year growth of 10.97% and 12.14%, respectively. EPS estimates for fiscal 2025 have improved 18 cents in the past 60 days.
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Tesla Gets Orders for 50K Redesigned Model Y in a Day in China
Tesla, Inc. (TSLA - Free Report) reportedly received 50,000 orders for its redesigned Model Y within 24 hours in China. Per BofA Securities, the updated SUV is priced 5% higher than the previous version. To attract buyers, Tesla is offering a 10,000 RMB discount and a five-year interest-free loan on the previous model.
The refreshed Model Y was unveiled last week in China and select markets supplied by Tesla’s Shanghai factory and its deliveries are anticipated to begin in March. Although it hasn’t launched in Europe or North America, it is expected to debut there in the coming months. While the design update received mixed feedback compared to the Model 3 refresh, Tesla still reported strong order volumes.
With 480,309 units sold over 12 months in 2024, the Model Y became China’s top-selling vehicle, per China EV DataTracker. Despite trailing the BYD Qin Plus sedan for much of the year, TSLA ended December with a surge and sold 61,881 units. This marked the third-highest monthly sales record after November and August of 2022. Tesla China’s December sales totaled 93,766 vehicles, bolstered by marketing efforts, the introduction of the smart summon feature and final payment reductions for the Model Y.
The updated Model Y "Juniper," expected to attract more buyers in 2025, reportedly saw significant pent-up demand due to the year-long anticipation of the refresh. Although Tesla's Chinese website lists March for new orders' delivery, some sources suggest that deliveries may extend into April or May for recent purchases. The performance version of the updated Model Y has yet to be launched.
TSLA’s Zacks Rank & Key Picks
Tesla currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are XPeng Inc. (XPEV - Free Report) , Geely Automobile Holdings Limited (GELYY - Free Report) and Blue Bird Corporation (BLBD - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for XPEV’s 2024 sales and earnings suggests year-over-year growth of 27.31% and 42.26%, respectively. EPS estimates for 2024 and 2025 have improved 4 cents and a penny, respectively, in the past 60 days.
The Zacks Consensus Estimate for GELYY’s fiscal 2025 sales and earnings suggests year-over-year growth of 66.62% and 149.31%, respectively. EPS estimates for fiscal 2025 and 2026 have improved by 15 cents and 38 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for BLBD’s fiscal 2025 sales and earnings suggests year-over-year growth of 10.97% and 12.14%, respectively. EPS estimates for fiscal 2025 have improved 18 cents in the past 60 days.