The sales figure marks a 70% decline from last year, underscoring the impact of the US-China trade war on electric car maker. China had in July raised its tariffs on US auto imports to 40%, further weighing on the margins of the company.
A spokesperson of Tesla told CNBC, “This is wildly inaccurate. While we do not disclose regional or monthly sales numbers, these figures are off by a significant margin.”
While CEO Elon Musk had earlier expressed his desire to reduce the prices of Tesla vehicles in China, such a move would badly hurt the cash-strapped company as long as it imports vehicles to the Asian market. Such a move might now be halted till the factory in Shanghai is up and running.
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Last month, Tesla reported third-quarter results that smashed past estimates, with automobile revenues soaring 158%, primarily driven by higher Model 3 deliveries. The company also achieved profitability as promised by Musk, though a few critics have stated that this was the peak for the company.
TSLA shares have strictly traded sideways so far this year and are currently up 6%.