Tesla has reported an upturn in quarterly production and sales, helped by higher orders in China and a surge in output at its Shanghai plant.
Although some media reports suggested it fell short of analyst estimates, Tesla Q3 production was 469,796 units – versus 411,000 in Q2. Deliveries were up to 462,890 units – versus 444,000 in Q2. The rises followed two successive quarters of declines.
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Analysts note that Tesla has faced tougher competition in China – which accounts for around a third of its global sales – this year from BYD and other domestic makers with lower priced BEVs. The company introduced a range of offers in the spring designed to lift sales in China.
The Chinese government also increased incentives for BEVs in China earlier this year.
