Tesla (TSLA) China sees 68.7% jump in EV sales

Electric vehicle giant, Tesla (NASDAQ: TSLA) reportedly sold 94,139 China-made electric vehicles in December according to data released by the China Passenger Car Association (CPCA), a 68.7% jump compared to the same time last year.

China-made Model 3 and Model Y deliveries saw a 14.2% increase compared to November.

Tesla's sales of China-made vehicles, including exports, reached 947,742 for the entire year, comprising 52.4% of the company's global deliveries.

The Shanghai plant, Tesla's largest globally, has the capacity to manufacture 1.1 million units of Model 3 and Model Y vehicles annually. Apart from serving the Chinese market, it also supplies countries like New Zealand, Australia, and Europe.

Globally, Tesla achieved a record-breaking delivery of 484,507 cars in the fourth quarter, beating market expectations. However, it was surpassed by BYD and lost its top spot as the leading electric vehicle maker as the Chinese rival reported a record quarter with sales of 944,779 new energy vehicles.

Shares of TSLA are down 1.25% in pre-market trading Wednesday morning.

By Michael Elkins | [email protected]

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