Tesla Shanghai plant exports record 34% Y/Y growth to 54,504 vehicles in October
Xiaolu Chu/Getty Images News


Followed by monthly sales release of China-made vehicles of 71,704 units, Tesla (NASDAQ:TSLA) announced on Tuesday that 54,504 units were exported for the month of October, up 34% Y/Y and up 887% M/M.
Local sales grew 25% Y/Y to 17,200 vehicles in October.

"Tesla makes cars for export in first half of quarter & for local market in second half," the company's CEO Elon Musk's account wrote on Weibo on August 18 in both Chinese and English.
Earlier today, Tesla announced a discount of up to RMB 8,000 ($1,110) for Chinese consumers who purchase inventory vehicles.
On October 24, the company reported $5.13B in revenue from China in Q3, up around 65% Y/Y. It also announced price cut for its Model 3 and Model Y cars by as much as 9% in China due to softening in demand.
Last month, the company reported mixed Q3 results and warned that deliveries could hit a slight speed bump in Q4 due to supply chain and logistical issues.
Shares marginally up in premarket session.