Tesla Inc again recorded an increase in registrations of its Chinese-made cars as promotions towards the end of the quarter helped to cancel out negative press from customer complaints and quality issues.
TSLA gains +0.31%
Registrations of Model 3 sedans and Model Y SUVs manufactured at Tesla’s Shanghai factory totaled 28,508 units in June, a 29% rise from May and double the figures in April.
Model 3 registrations recovered to 16,995, while Model Y’s units dropped by 10% to 11,513.
The strong performance for Model 3 sedans can be partly attributable to Tesla promotions that consisted of preferential loans and discounts for upfront payments.
Tesla has face major challenges in China, including a major recall for a software fix and negative publicity after a protestor climbed on their vehicle at the Shanghai Auto Show in April and brake failure incident