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The manufacturing improvement in Shanghai boosted Tesla's China sales

Aria Thomas

Oct 10, 2022 15:19

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Sunday's report indicates that Tesla (NASDAQ:TSLA) sold 83,135 China-made vehicles wholesale in September, breaking its monthly sales record in China (CPCA).


According to CPCA data, the number is up 8% from August and outpaces the 5% month-over-month increase in China's wholesale sales of electric vehicles.


It surpassed the previous record of 78,906 sales in June, as the American automaker continues to expand production in China.


Refinitiv reports that Tesla delivered 343,830 electric vehicles worldwide in the third quarter, a record but less than the 359,162 analysts predicted.


Tesla accelerated China deliveries after halting most production at its Shanghai plant for an upgrade in July, which was intended to increase weekly output from 17,000 to 22,000 units per week.


After a COVID lockdown, the Model 3 and Model Y facility resumed operations on April 19, but full production did not resume until mid-June.


In spite of heatwaves and COVID restrictions in the southwest, production grew.


In September, BYD led the domestic EV market with 200,973 wholesale sales, a 15% increase from August. According to the CPCA, higher gasoline prices and government incentives are encouraging more consumers to choose electric vehicles.

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