<p>今年对 <strong>特斯拉</strong>(TSLA 6.18%) 的投资者来说简直就像是一场打地鼠的游戏：当一个问题消失时，另一个问题——或者两个——立刻冒出来。</p>
<p>特斯拉正面临越来越多的诉讼、管理层人才流失、老旧的车型阵容、销售下滑、零排放信用销售收入减少以及竞争加剧等一系列问题。另一个问题是中国，特斯拉在这里与价格竞争激烈的国内品牌展开了一场残酷的价格战。</p>
<p>但特斯拉可能有一个绝招来帮助提升其在该地区的销售：Model Y L。</p>
<h2>需要销售提升</h2>
<p>在我们讨论 Model Y L 之前，先看看中国的形势有多严峻。在第二季度，特斯拉在中国售出了 128,803 辆电动车（EV），比第一季度下降了 4.3%，比去年下降了 11.7%。</p>
<p>更复杂的是，在进行了一轮折扣和激励的市场推广后，特斯拉的销售在 6 月略有回升，但在 7 月又再次下滑。</p>
<p>更糟糕的是，销售下滑发生在更新后的 Model Y 车型上市之后。第一季度的生产低于预期导致销售失望，但一旦生产恢复正常，交付仍未能反弹。</p>
<p>中国市场的疲软导致特斯拉全球交付在第二季度下降了 13.5%，这是十多年来最糟糕的季度下降。形势并没有好转，中国的国内品牌继续进行降价。最近的一个例子是 <strong>蔚来汽车</strong>，其对配备长续航电池的车型进行了全面降价，降低了其可选的 100 千瓦时电池的价格。</p>
<h2>Model Y L 是什么？</h2>
<p>特斯拉在其最关键的市场之一面临放缓，之前提到的价格战和经济放缓。电动车制造商认为，推出新款 Model Y L 是弥补销售损失的一种方式。新版本的 Model Y 是一款为中国消费者设计的加长六座版流行 SUV。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzAyNzMvbmV3bW9kZWx5XzY1LmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="393" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzAyNzMvbmV3bW9kZWx5XzY1LmpwZyZ3PTcwMA"/></p>
<p>新的特斯拉 Model Y，将很快作为 SUV 在中国上市。图片来源：特斯拉。</p>
<p>原因很简单：中国消费者更喜欢更大的家庭车，座位容量更多，而这正是 Model Y L 的优势——“L” 代表长轴距，意味着六座布局和更多的腿部空间。</p>
<p>问题在于 Model Y L 的定价是否足够具有竞争力，以推动特斯拉的交付。其价格高于五座版，约为 339,000 人民币（47,180 美元），但仍然比许多分析师预期的 400,000 人民币（55,700 美元）更具竞争力。</p>
<p>Model Y L 旨在满足希望获得额外空间而不想被迫选择更高价豪华选项的家庭，但它将面临日益激烈的竞争。这是因为六座 SUV 在中国已成为一个热门细分市场。 <strong>理想汽车</strong> 最近推出了其六座 SUV，名为理想 i8，预计将在特斯拉 Model Y L 的交付开始之前于 9 月上市。</p>
<h2>这意味着什么</h2>
<p>虽然这是特斯拉扩大其细分市场覆盖范围的明智之举，尤其考虑到六座车型的受欢迎程度，但不太可能对中国的交付产生重大影响。长期投资者应保持现有策略，但明智的做法是为几个波动的季度做好准备。美国市场将在 9 月底$7,500 的联邦电动车税收抵免到期后经历需求的提前释放，而中国市场仍在激烈竞争中，前景未见好转。</p>

特斯拉

2 倍做空特斯拉 ETF - GraniteShares

2 倍做多特斯拉 ETF - Direxion

2 倍做空特斯拉 ETF - Tradr

XI二南特斯-U

南方两倍做多特斯拉

南方两倍做空特斯拉

2 倍做多 TSLA ETF - GraniteShares

<p>特斯拉在中国面临重大挑战，包括销售下滑和来自国内品牌的激烈竞争。在第二季度，特斯拉在中国的销售较第一季度下降了 4.3%，同比下降了 11.7%，这导致全球交付量下降了 13.5%。为了应对这一情况，特斯拉推出了 Model Y L，这是一款针对家庭的六座版本，定价为 339,000 人民币。然而，随着六座 SUV 市场竞争的加剧，尚不确定这是否会显著提升销售。投资者应为未来几个季度可能出现的波动做好准备</p>

<p>This year might as well be a game of whack-a-mole for investors in <strong>Tesla</strong>(TSLA 6.18%): When one problem disappears, another one -- or two -- pop right up in its stead.</p>
<div class="lb-trans"><p>今年对 <strong>特斯拉</strong>(TSLA 6.18%) 的投资者来说简直就像是一场打地鼠的游戏：当一个问题消失时，另一个问题——或者两个——立刻冒出来。</p>
</div><p>Tesla is dealing with mounting lawsuits, an executive talent exodus, an aging vehicle lineup, declining sales, loss of revenue from zero-emission credit sales, and increased competition, among other developments. Another problem is China, where it is embroiled in a brutal price war against relentlessly price-competitive domestic brands.</p>
<div class="lb-trans"><p>特斯拉正面临越来越多的诉讼、管理层人才流失、老旧的车型阵容、销售下滑、零排放信用销售收入减少以及竞争加剧等一系列问题。另一个问题是中国，特斯拉在这里与价格竞争激烈的国内品牌展开了一场残酷的价格战。</p>
</div><p>But Tesla might have one trick up its sleeve to help boost its sales in the region: the Model Y L.</p>
<div class="lb-trans"><p>但特斯拉可能有一个绝招来帮助提升其在该地区的销售：Model Y L。</p>
</div><h2>In need of a sales boost</h2>
<div class="lb-trans"><h2>需要销售提升</h2>
</div><p>Before we get to the Model Y L, let's look at exactly how dire things appear in China. During the second quarter, Tesla sold 128,803 electric vehicles (EVs) in China, which was a 4.3% decline from the first quarter and down 11.7% from the prior year.</p>
<div class="lb-trans"><p>在我们讨论 Model Y L 之前，先看看中国的形势有多严峻。在第二季度，特斯拉在中国售出了 128,803 辆电动车（EV），比第一季度下降了 4.3%，比去年下降了 11.7%。</p>
</div><p>To complicate matters further, after making a marketing push with discounts and incentives, Tesla sales had a minor resurgence in June before falling lower again in July.</p>
<div class="lb-trans"><p>更复杂的是，在进行了一轮折扣和激励的市场推广后，特斯拉的销售在 6 月略有回升，但在 7 月又再次下滑。</p>
</div><p>Worse still is the fact that the sales declines came after a refreshed Model Y lineup was available. Weaker-than-anticipated production during the first quarter led to disappointing sales, but once production was up to speed, deliveries still failed to rebound.</p>
<div class="lb-trans"><p>更糟糕的是，销售下滑发生在更新后的 Model Y 车型上市之后。第一季度的生产低于预期导致销售失望，但一旦生产恢复正常，交付仍未能反弹。</p>
</div><p>Weakness in China helped drive Tesla's global deliveries down 13.5% during the second quarter, the worst quarterly decline in more than a decade. The environment isn't getting better, with China's domestic brands continuing to unleash price cuts. One recent example was <strong>Nio</strong>, with an across-the-board price cut on its vehicles equipped with long-range batteries by lowering the price of its optional 100-kWh battery.</p>
<div class="lb-trans"><p>中国市场的疲软导致特斯拉全球交付在第二季度下降了 13.5%，这是十多年来最糟糕的季度下降。形势并没有好转，中国的国内品牌继续进行降价。最近的一个例子是 <strong>蔚来汽车</strong>，其对配备长续航电池的车型进行了全面降价，降低了其可选的 100 千瓦时电池的价格。</p>
</div><h2>What's the Model Y L?</h2>
<div class="lb-trans"><h2>Model Y L 是什么？</h2>
</div><p>Tesla is facing a slowdown in one of its most crucial markets, with the previously mentioned price war and slowing economy. One way the electric vehicle (EV) maker thinks it can make up some sales ground is with the newly launched Model Y L. The new version of the Model Y is a stretched six-seat version of the popular SUV made for Chinese buyers.</p>
<div class="lb-trans"><p>特斯拉在其最关键的市场之一面临放缓，之前提到的价格战和经济放缓。电动车制造商认为，推出新款 Model Y L 是弥补销售损失的一种方式。新版本的 Model Y 是一款为中国消费者设计的加长六座版流行 SUV。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzAyNzMvbmV3bW9kZWx5XzY1LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F830273%2Fnewmodely_65.jpg&amp;op=resize&amp;w=700"/></p>
<p>The new Tesla Model Y, which will soon be available as an SUV in China. Image source: Tesla.</p>
<div class="lb-trans"><p>新的特斯拉 Model Y，将很快作为 SUV 在中国上市。图片来源：特斯拉。</p>
</div><p>The reason is pretty basic: Chinese customers prefer larger family cars with more seating capacity, and that's where the Model Y L comes in – the &#34;L&#34; standing for long wheelbase, meaning a six-seat layout and more legroom.</p>
<div class="lb-trans"><p>原因很简单：中国消费者更喜欢更大的家庭车，座位容量更多，而这正是 Model Y L 的优势——“L” 代表长轴距，意味着六座布局和更多的腿部空间。</p>
</div><p>The question is whether or not the Model Y L is priced competitively enough to move the needle on Tesla deliveries. Its price tag is higher than the five-seat variant, at roughly 339,000 RMB, or $47,180, but still more competitive than the 400,000 RMB ($55,700) many analysts expected.</p>
<div class="lb-trans"><p>问题在于 Model Y L 的定价是否足够具有竞争力，以推动特斯拉的交付。其价格高于五座版，约为 339,000 人民币（47,180 美元），但仍然比许多分析师预期的 400,000 人民币（55,700 美元）更具竞争力。</p>
</div><p>The Model Y L is aimed at families who want extra space without being forced into a higher-priced luxury option, but it will have growing competition. That's because six-seat SUVs in China have become a hot segment. <strong>Li Auto</strong> recently launched its six-seat SUV, named the Li i8, which is due to arrive before Tesla's Model Y L deliveries begin in September.</p>
<div class="lb-trans"><p>Model Y L 旨在满足希望获得额外空间而不想被迫选择更高价豪华选项的家庭，但它将面临日益激烈的竞争。这是因为六座 SUV 在中国已成为一个热门细分市场。 <strong>理想汽车</strong> 最近推出了其六座 SUV，名为理想 i8，预计将在特斯拉 Model Y L 的交付开始之前于 9 月上市。</p>
</div><h2>What it all means</h2>
<div class="lb-trans"><h2>这意味着什么</h2>
</div><p>While this is somewhat of a no-brainer move from Tesla to expand its segment coverage, especially considering the six-seater's growth in popularity, it's unlikely to seriously move the needle for deliveries in China. Long-term investors should stay the course but would be wise to prepare for a few bumpy quarters. The U.S. market will work through a pull-forward in demand as the $7,500 federal tax credit on EVs expires at the end of September, and the Chinese market continues to be combative with no end in sight.</p>
<div class="lb-trans"><p>虽然这是特斯拉扩大其细分市场覆盖范围的明智之举，尤其考虑到六座车型的受欢迎程度，但不太可能对中国的交付产生重大影响。长期投资者应保持现有策略，但明智的做法是为几个波动的季度做好准备。美国市场将在 9 月底$7,500 的联邦电动车税收抵免到期后经历需求的提前释放，而中国市场仍在激烈竞争中，前景未见好转。</p>
</div>

Will Tesla's Bet on Bigger Vehicles in China Pay Off?

- 特斯拉面临多重挑战，包括诉讼、销售下滑和竞争加剧。  
- 在中国市场，特斯拉推出了新款 Model Y L，以应对价格战和销量下降。  
- 尽管新车型定价具有竞争力，但短期内对销量的影响可能有限。  

特斯拉在中国押注更大车型是否会取得成功？