Tesla's China sales drop sequentially to 71,704 vehicles: CPCA Report
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Tesla (NASDAQ:TSLA) saw a sequential decline of 13.75% as the automaker sold 71,704 China-made vehicles in October, China Passenger Car Association (CPCA) reported Thursday.

That follows the company's record monthly sales in China where 83,135 vehicles were sold during September; however, still falling short of overall Q3 delivery expectations.

On a year-over-year basis, Tesla's October sales in China were up 31.83% from 54,391 units a year ago.
Shanghai's factory, which is the Tesla's largest in the world and produces the Model 3 and Model Y, is reported to be running at annual capacity of more than 750,000 vehicles.
"Our factory in Shanghai remains our main export hub, supplying vehicles to most markets outside of North America," the EV giant said in its third quarter's earnings report.

Tesla's California plant has a total annual capacity of 650,000 while Berlin and Texas have exceeded 250,000 units each.
Reuters reported Wednesday that Tesla (TSLA) has closed its flagship showroom in Beijing's Parkview Green alongside considering the shutdowns of some of its high-profile sites due to dwindling foot traffic amid COVID restrictions in China.
Recently, Tesla has cut prices for its Model 3 and Model Y cars by as much as 9% in China, reversing a trend of price increases across the industry amid signs of softening demand.
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TSLA shares are down 1.5% in pre-market on Thursday.