TLDR
- Tesla’s China-made EV sales rose 36% year-over-year in April to 79,478 units
- Sales were down 7.2% from March but well above April 2025 levels
- Full Self-Driving approval in China now expected in Q3, delayed from Q1
- Insiders sold over 80,000 shares worth ~$30.8 million in the past 90 days
- Average analyst rating is “Hold” with a price target of $398.42
Tesla’s China-made EV deliveries jumped 36% in April compared to a year ago, marking six straight months of year-over-year gains. The company delivered 79,478 units from its Shanghai plant, including exports to Europe and other markets.
That’s down 7.2% from March’s 85,670 units, but the annual comparison tells a more positive story for the automaker.
TSLA opened at $398.75 on Thursday, up around 2.4% on the day. The stock has a 52-week range of $271.00 to $498.83 and a market cap of $1.50 trillion.
Tesla’s broader China picture has been rough over the past year. The automaker lost nearly half its European market share in 2025, and competition from cheaper Chinese rivals has kept the pressure on.
But April’s numbers suggest some stabilization. Sales also picked up in several European markets last month, including Sweden, France, and Denmark.
Stronger demand for battery EVs in Europe was partly driven by rising oil prices linked to the U.S.-Iran conflict.
FSD Delay Clouds the Recovery
One overhang on the China story is Full Self-Driving. Tesla now expects to secure full FSD approval in China by Q3. That’s a slip from the original Q1 target.
CFO Vaibhav Taneja flagged the delay during the company’s April earnings call. FSD approval is seen as a key selling point in China, particularly with premium buyers.
European regulators have also shown skepticism toward the technology, according to emails reviewed by Reuters.
To stay competitive in China, Tesla is reportedly developing a cheaper, compact SUV to be produced locally. The move is seen as a direct response to a flood of lower-priced Chinese models.
Overall retail sales of new energy vehicles in China hit 1.22 million units in April, up 7% year-over-year, per the China Passenger Car Association.
BYD, Tesla’s biggest rival in China, saw annual sales fall 15% in April to 314,100 units.
Insiders Selling, Analysts Hold
On the earnings front, Tesla reported Q1 EPS of $0.41, beating the $0.39 estimate. Revenue came in at $22.39 billion, slightly below the $22.96 billion consensus.
Revenue was up 15.8% year-over-year. In Q1 2025, Tesla earned $0.27 EPS.
Insiders have been selling. Director Kathleen Wilson-Thompson offloaded 26,409 shares on April 30 at an average price of $378.11, totaling nearly $10 million. That represented a 35.3% reduction in her stake.
Over the past 90 days, insiders have sold 80,213 shares worth roughly $30.85 million combined.
On the institutional side, Gateway Investment Advisers raised its Tesla position by 0.5% in Q4, adding 2,279 shares to bring its total to 498,845 shares valued at about $224.3 million.
Analyst sentiment is mixed. Of 41 analysts covering the stock, 19 rate it a Buy, 17 a Hold, and 5 a Sell. The average price target sits at $398.42.
Truist Financial cut its target from $438 to $400 and maintained a Hold rating on April 2. Bank of America has a Buy rating with a $460 target.
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