Why do Tesla (TSLA) shares tend to trade pre-market?
Shares of U.S. electric vehicle maker Tesla, Inc. (NASDAQ:TSLA) trended on Wall Street on Tuesday after data from the China Passenger Car Association (CPCA) showed Tesla had sold 70,847 Chinese-made vehicles in December. The number marked its highest monthly rate since it started manufacturing vehicles in Shanghai in 2019.
Tesla’s total December sales were about three times the number of sales in December 2020. Meanwhile, the number was also up 34% from its November sales.
Considering the full December delivery, the EV maker’s total sales were over 473,000 vehicles in 2021. Notably, the highest monthly sales were last reported in October 2021, when the automaker sold 56,006 vehicles made in China.
Tesla has its manufacturing plant in Shanghai, from where it started delivering its vehicles in late 2019. It manufactures Model 3 sedans and Model Y sport utility vehicles in the plant which are mainly sold in domestic and international markets as Japan, Germany, etc.
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Tesla, Inc. (NASDAQ: TSLA) Stock Performance and Highlights:
TSLA shares were priced at US$1,070.06 at 5:33 a.m. ET on Jan. 11, up 1.13% from its previous close when it closed at US$1,058.12. Its stock market value has increased by 54.31% over the past six months.
The company has a market cap of US$1.06 trillion, with a P/E ratio of 342.43 and a one-year forward P/E ratio of 243.93. Its EPS is $3.09.
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The stock had the highest price of US$1,243.49 and the lowest price of US$539.49 in the past 52 weeks. Its trading volume was 30,604,960 on January 10.
The company’s revenue jumped 57% year-on-year to $13.75 billion in the third quarter of FY21. On a GAAP basis, its net income attributable to common shareholders was US$1.61 billion, an increase of 389% year-on-year.
In the fourth quarter of fiscal 2021, the company manufactured a total of 305,840 vehicles and delivered 308,600 vehicles.
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At the end of the line :
Auto sales in China rose for the first time since 2018 last year. Total sales rose 4.5% year-on-year to 20.5 million units, according to CPCA data on Tuesday. Meanwhile, in December 2021, total passenger vehicle sales totaled 2.14 million in China, down 7.7% from December 2020.