China
Shanghai-built Tesla sales rise 5% in September, an 11th straight monthly gain
Giga Shanghai sold 95,366 cars including exports, extending its year-over-year growth streak as European demand offsets a tough Chinese retail market.
By TeslaRecon Desk//1 min read
The 10-second read
- 95,366 China-made sales in September (domestic + exports), up from 90,812 a year earlier.
- The 11th straight month of year-over-year gains, accelerating from +3.6% in August.
- Reuters calculates Q3 Shanghai sales were up 13.7% YoY.
- Tesla is offering final-payment discounts of 7,000 yuan (Model Y) and 5,000 yuan (Model 3) through October.
Giga Shanghai, Tesla's highest-output factory, kept growing in September. Data from the China Passenger Car Association, reported by Reuters, shows Tesla sold 95,366 China-made vehicles, both domestic sales and exports, up 5% from 90,812 a year earlier.
The streak
It's the 11th straight month of year-over-year gains, and faster than August's +3.6%. Reuters calculates that Shanghai's Q3 sales rose 13.7% year over year.
Why exports matter
China's domestic retail market has been tough and very price-competitive. Much of Shanghai's strength has come from exports, especially to Europe, where Tesla's sales are recovering. Domestic demand still needs incentives: Tesla is offering final-payment discounts of 7,000 yuan on Model Y and 5,000 yuan on Model 3 through October.
Market reaction
TSLA traded up about 3% on the morning of October 9, around $386.
Context for Q3
Shanghai's quarter fed into the 486,532 global deliveries Tesla reported on October 2. Our breakdown covers what that sets up for the October 21 earnings call.
Sources
Nothing on TeslaRecon is investment advice. Market data may be delayed. Do your own research and consider your own situation before investing. TeslaRecon is an independent publication. It is not affiliated with, endorsed by, or sponsored by Tesla, Inc. Tesla, Model S/3/X/Y, Cybertruck, Optimus and FSD are trademarks of Tesla, Inc., used here only to identify the subject of our reporting.
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