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Tesla breaks China’s monthly sales record

Tesla breaks China’s monthly sales record

By Michael Elkins

The China Passenger Car Association (CPCA) released a report Sunday showing that electric vehicle maker Tesla (NASDAQ 🙂 delivered 83,135 Chinese-made electric vehicles (EVs) in September, setting a record monthly higher than the previous deliveries of 78,906 in June. The number represents an 8% increase compared to August.

“Record high sales of Tesla vehicles made in China show that electric vehicles are driving the mobility trend,” Tesla said in a brief statement.

Since opening the factory in late 2019, Tesla has sought to bring the facility in the commercial center of China to full capacity. The company has been ramping up deliveries after suspending most production at its Shanghai plant in July for an upgrade. However, the electric vehicle manufacturer plans to keep production at its Shanghai plant at around 93% of its capacity until the end of the year.

China’s BYD (OTC 🙂 continues to lead the domestic electric vehicle market with sales of 200,973 in September, an increase of nearly 15% from August. The CPCA said high oil prices and government subsidies continue to encourage more consumers to choose electric vehicles.

Tesla said last week that it delivered 343,830 electric vehicles globally in the third quarter. A company record, but still below the analyst average of 359,162.

TSLA shares were down 1.10% in premarket trading on Monday.

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