According to a report released by the China Passenger Car Association on Sunday, Tesla (TSLA.US) sold 74,073 electric vehicles manufactured in China in September, a year-on-year decrease of 10.9%. As a result, the company's stock price was slightly affected. In September, the sales of the China-made Model 3 and Model Y decreased by 12% compared to August. Tesla exports many of its cars produced in China.
A week ago, Tesla announced that its vehicle deliveries in the third quarter were lower than the previous quarter.
The company stated, &#34;As discussed in the recent earnings conference call, the decrease in sales compared to the previous month is due to the factory upgrade plan shutdown.&#34; &#34;Our sales target of approximately 1.8 million vehicles in 2023 remains unchanged.&#34;
On October 6, the company significantly reduced the prices of certain Model 3 and Model Y models in the United States.
Tesla will announce its third-quarter earnings on October 18.
Tesla's stock price fell by about 2% in early trading on Monday and ultimately closed down 0.33% at $259.67.

TSLA

In September, Tesla sold 74,073 electric vehicles made in China, a YoY decrease of 10.9%.

Tesla's car sales in China in September were 74,073 units, a YoY decrease of 11%.