Tesla’s (TSLA) China factory shipment reportedly rose for the third time this year, amid a global decline in sales for the Musk-led electric vehicle (EV) maker.
According to preliminary data from China’s Passenger Car Association, the firm’s Shanghai plant shipped 86,700 vehicles in November, a 10% year-over-year increase, Bloomberg reported.
The month of November recorded the second-highest sales this year, trailing only September sales, when the company delivered 90,812 vehicles from its Shanghai plant.
The gain in shipments represents a rare bright spot in China this year for Tesla, as it faces curbs on US federal subsidies for EVs and is on track for a second straight annual decline in global sales.
On the other hand, Chinese EV maker and Tesla’s biggest rival BYD (OTCPK:BYDDF)(OTCPK:BYDDY) reported a third straight monthly decline in sales. BYD sold 480,186 new energy vehicles (NEV) in November, a 5.2% decline year-over-year from 506,804 NEVs sold in November 2024.
Data from China’s PCA also showed that November new energy vehicle sales, which include plug-in hybrid and fully electric vehicles, increased 20% year-on-year.