Tesla Stock Down As Model 3 Leads Top 10 EVs In China In 2020

Tesla‘s (TSLA) Model 3 tops the list of the 10 most sold new energy vehicles (NEVs) in China in 2020, while Warren Buffett-backed BYD Co.‘s (BYDDF) Han luxury SUV made the list less than six months after it launched. Tesla stock rose.




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Tesla sold more than 137,000 Model 3 sedans in China last year, China’s Car Passenger Car Association said late Tuesday, according to CNBC.

In fact, the Model 3 held the top spot in its category for every month, marking a banner year for the U.S. automaker overall. Tesla sold nearly 500,000 vehicles worldwide in 2020.

At No. 2 is SAIC-GM-Wuling’s Hongguang Mini. At $4,400, the compact EV is a popular choice among many Chinese drivers. Total sales at General Motors (GM) joint venture with Wuling Motors and state-owned SAIC soared 190% year over year to 174,000 units.

The third and fourth spots went to Great Wall Motor’s Ora R1 and GAC Motor’s Aion S, respectively. Meanwhile, BYD’s compact sedan Qin came in at No. 5 and its Han luxury sedan was No. 8. BYD sold a total of nearly 190,000 NEVs in 2020, down 17% from 2019.

The sixth bestselling EV in China in 2020 was the Chery eQ, an economy car priced at $9,200. Li Auto‘s (LI) Li One SUV ranked No. 7, and Nio‘s (NIO) ES6 SUV came in ninth. For all of 2020, Nio sold 43,728 vehicles.

BMW‘s (BMWYY) hybrid 5 Series sedan rounded out the list at No. 10. BMW sold around 30,000 NEVs in 2020.

Best EV Sales In China

  1. Tesla: Model 3
  2. SAIC-GM-Wuling: Hongguang Mini
  3. Great Wall Motor: Ora R1
  4. GAC Motor: Aion S
  5. BYD: Qin EV sedan
  6. Chery: eQ
  7. Li Auto: Li One
  8. BYD: Han EV
  9. Nio: ES6
  10. BMW: 5 PHEV

Tesla Stock, China EV Stocks

After reversing earlier losses, Tesla stock closed up 0.6% at 854.41 on the stock market today. The IBD Leaderboard stock is well extended past a buy point of 466 and is flashing several signals of a climax top, according to MarketSmith chart analysis. BYD stock fell 1.9%.

GM shares climbed 1.9% to 48.93 on Wednesday, at the edge of the 5% chase zone from a 46.71 buy point from a cup base, on new product announcements from CES and plans to increase investment in EVs.

Li Auto shares fell 3.3%, and Nio stock edged up 0.2%.

Follow Adelia Cellini Linecker on Twitter @IBD_Adelia.

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Source: https://www.investors.com/news/tesla-stock-model-3-leads-top-10-electric-vehicles-china-2020/?src=A00220&yptr=yahoo