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Tesla Inc Records Its Second-Best Monthly Sales in China, Led by Model 3

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Tesla CEO Elon Musk, center, speaks during the groundbreaking ceremony of the U.S. electric automaker's first non-U.S. manufacturing plant Gigafactory 3 in Shanghai, China, 7 January 2018.

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.

Source: Bloomberg.

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

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