Tesla Inc.’s sales in China posted double-digit growth in June to hit a three-month high, Bloomberg reported.
- Data from the China Automotive Information net show that Tesla’s Shanghai factory recorded a total of 28,508 units in June. This is the second-best monthly sales and the highest since March.
- Growth was led by the registration of model 3 sedans, which rebounded to 16,995 during the month. The increase was driven by aggressive promotions that include preferential loans and discounts for upfront payments.
- Model Y registrations stood at 11,513, reflecting a 10% drop from May. Deliveries for the model started in 2020, with a cheaper version rolled out in the second half.
- The carmaker was hounded by several challenges in the past months, following the recall to address software issues and negative publicity after reports of a brake failure that nearly claimed the lives of four.
Total Tesla registrations in China hit 132,228 in the first half of the year. Sales of new-energy vehicles in the country hit 1 million during the period.
TSLA is up 1.11% premarket.