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China's global sales slightly higher in May [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
The market last month was supported by a moderate increase in domestic sales while exports fell 4% to 481,000 units. The government this year had stepped up efforts to stimulate domestic consumption including reducing down payment requirements on vehicle loans. In April the commerce ministry began offering a one off subsidy of CNY10,000 (US$1,381) until the end of 2024 to buyers trading in their old vehicles for qualifying new models. GDP was estimated to have grown 5.3% year on year in the first quarter of 2024, driven by strong overall exports and a pick up in retail sales and service sector activity. Global vehicle sales in the first five months of the year rose 8% to 11.496m units from 10.617m a year ago, with domestic sales rising 4% to 9.2m units while exports surged 31% to 2.3m. Global sales of new energy vehicles (NEVs), mainly battery electric vehicles (BEVs) and plug-in hybrids (PHEVs), rose 33% to 955,000 units in May and 32% to 3.95m year to date (YTD) including 5
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