The EV maker’s China sales jumped 25% in September from the prior month during the country’s “Golden September” buying season, signaling improving demand in the world’s largest EV market.
Tesla shares ticked up 2.5% higher in premarket trading on Monday after the company logged a strong rebound in China, with sales climbing 25% in September from the previous month.
The bump came during the country’s “Golden September” car-buying season, which is a time when shoppers typically return to showrooms after the summer slowdown, according to a Reuters report.
Tesla sold 71,525 vehicles in China last month, making it the company’s second-best month of the year, behind only March, CnEVPost reported, citing data from the China Passenger Car Association (CPCA).
While sales were still slightly below last year’s levels, the monthly surge suggested that demand in the world’s biggest EV market is firming up again.
Tesla’s Shanghai factory, which builds the Model 3 and Model Y for both local and export markets, turned out 90,812 vehicles in total, up about 9% from August. Exports totaled 19,287 units, approximately 20% higher than the previous year but lower than the month before, due to increased allocations to Chinese buyers.
The company’s market share nudged higher in September, reaching 5.5% of all new-energy vehicle sales and 8.7% of battery-electric vehicle sales in China, the CPCA said.
China’s broader auto market also gained momentum. National car sales accelerated in September, the traditional peak season, as dealers and consumers took advantage of trade-in subsidies before more local governments suspended the incentives. Overall, new-energy vehicle sales rose 16% from August and 15% year-on-year, buoyed by new model launches and seasonal demand.
Tesla’s share of China’s new-energy vehicle market rose to 5.5% in September from 5.2% in August, while its share of the battery-electric segment climbed to 8.7%, CPCA data showed.
From January through September, Tesla sold 432,704 vehicles in China, down about 6% from a year earlier but still accounting for more than a third of the company’s global deliveries in the third quarter.
On Stocktwits, retail sentiment for Tesla was ‘bearish’ amid ‘normal’ message volume.
One user said they expected Tesla shares to retrace from around $425 to $418 but added that opening at $425 would still mark “a great start.”
Another user mentioned adding to their Tesla position at $416, noting they had placed a limit buy order at that level and were optimistic about a strong rebound in futures trading the next day.
Tesla’s stock has risen 2.4% so far in 2025.
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