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Tesla Gains on Record Sales of China-Made Cars By Investing.com

by Mike Robinson

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© Reuters.

By Dhirendra Tripathi

Investing.com – Tesla stock (NASDAQ:) stock rose 1.4% Tuesday as the company sold record number of vehicles made at its Shanghai factory in China in September.

The electric vehicle maker currently makes Model 3 sedans and Model Y sport-utility vehicles in China’s biggest city.

Data from China Passenger Car Association revealed that 56,006 Chinese-made vehicles were sold by the company in September. That’s more than 26% less than it sold in August when it had 44,264 units.

3.853 units of September’s sales were shipped, as compared with 31379 vehicles exported the previous month.

CPCA reported that passenger car sales were down by 17% in China last September, compared to a previous year.

Chinese EV manufacturers Nio (NYSE 🙂 and Xpeng(NYSE 🙂 shipped 10,628 and 10,412 units, respectively, in September.

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