Tesla (NASDAQ:TSLA)
According to a report released on Sunday by the China Passenger Car Association (CPCA), reported by Reuters, electric vehicle manufacturer Tesla (NASDAQ:TSLA) broke its record for monthly sales in China by selling 83,135 vehicles made in China wholesale in September. This caused Tesla to smash its previous record for monthly sales in China.
The amount represented an increase of 8% from the previous month. It surpassed the rise of total wholesale sales of electric vehicles in China, which was more than 5% month-over-month, according to statistics provided by the CPCA.
As the American automaker continues to invest in China manufacturing, it surpassed the previous sales record of 78,906 in June, which created a new record for Tesla’s Shanghai plant since production started in December 2019 and set a new record for overall sales.
Tesla sped up its deliveries in China after temporarily halting most production at the Shanghai plant in July for an upgrade. This upgrade was intended to bring the factory’s weekly output to around 22,000 units, up from levels of around 17,000 in June, as reported by Reuters. Tesla sped up its deliveries in China after the upgrade.
With its total deliveries for the third quarter, the electric vehicle company fell short of experts’ forecast worldwide.
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After a plant update in Shanghai, Tesla could sell a record 83,135 automobiles built in China in September, which caused the Tesla stock to rise.
Featured Image – Megapixl © Sergiomonti
Author Shariq Khan 
