Tesla China EV Sales Rise 5% for 11th Straight Month

Tesla sold 95,366 China-made Model 3 and Model Y vehicles in September, up 5% from 90,812 a year earlier, the China Passenger Car Association reported Friday—the 11th straight month of annual growth. Exports rose 58% to 30,529 while domestic sales fell 9% to 64,837, so the gain was export-driven. The 5% pace improved on August's 3.6% year-over-year rise. Investor's Business Daily reported the stock spiked after the release. A rebound in parts of Europe backed overseas demand, with September registrations up 61.9% in France, 128.3% in Portugal and 38.4% in Sweden. Those country figures, the Shanghai factory's full-quarter result, and the worldwide total are different geographic slices of the same period: Q3 Shanghai-made sales rose 13.7% year-over-year, while Tesla's global deliveries fell 2.1% to 486,532, still above Wall Street's estimate of about 461,000. Contested: none found in record. Tesla is offering discounts in China amid intense competition and weaker local demand, a step that could weigh on profit margins.