Tesla Model S China Sales ‘Robust’, Electric Car Waiting List Long: AnalystTesla Model S China Sales ‘Robust’, Electric Car Waiting List Long: Analyst

Tesla Motors sales in China are “robust,” and the company may have as many as 4,000 reservations for its Model S–which it only started selling in China five months ago.
The upbeat assessment came from Patrick Archambault, a Goldman Sachs analyst who has followed Tesla Motors [NSDQ:TSLA] since its initial public offering several years ago.
Tesla only releases sales figures quarterly, so we won’t know its sales from July through the end of this month until sometime in November.
DON’T MISS: Tesla In Deal To Build 400 Charging Stations In China
With the Chinese national government discussing and planning strong incentives for zero-emission electric cars, and the appetite for brand-name luxury goods seemingly limitless among wealthy buyers, Tesla could be poised to do well in China.
Tesla CEO Elon Musk has said in the past that China could prove to be the Silicon Valley carmaker’s largest single market over time.
2014 Volvo S60L production in China
Every luxury brand in the world is avidly targeting China, and most are now assembling cars there or planning to do so in the near future.
“Model S demand in China is robust with wait times having expanded out to six months post the 3Q shutdown,” wrote Archambault in the report issued last week.
ALSO SEE: Tesla Will Build Electric Cars In China; Model S On Sale There This Week (Apr 2014)
“Adding service centers is a key priority,” he said, “with delivery teams working around the clock to meet increasing delivery targets.”
Archambault cites “industry sources” to whom he attributed an estimate that as of mid-September, Tesla had reservations for 4,000 Model S electric cars in China.
Vision for Lincoln dealership in China
A reservation requires an initial deposit of Rmb 15,000 ($2,400), with a subsequent payment of Rmb 250,000 ($40,700) required within two weeks to have a production slot assigned.
The balance of the payment is due on delivery, although Chinese buyers are billed once the vehicle ships from Tesla’s assembly plant in Fremont, California.
MORE: Tesla & China: Priced At $121,000, Country Could Be Biggest Market, Musk Says
The company has said that it expects to build cars in China in the future.
Today, Tesla does not receive the same tax breaks that are offered to certain domestic electric-car makers, most notably BYD.
2014 Tesla Model S
But BYD will likely never be viewed as a luxury brand, whereas Tesla has that opportunity–especially if it uses its Silicon Valley technology roots to set itself apart from the more traditional German makers.
Healthy sales in China are likely to be required if Tesla is to meet its stated goal of building and selling 2,000 cars a week–or 100,000 a year–by December 2015.
________________________________________________
Follow GreenCarReports on Facebook, Twitter, and Google+.

View original article at : “https://www.greencarreports.com//news/1094687_tesla-model-s-china-sales-robust-electric-car-waiting-list-long-analyst”