TSLA - Tesla Broke Its Monthly Sales Record in China -- but It Hasn't Caught Up to This Automaker Just Yet
Despite experiencing some significant hurdles over the past year with its Shanghai factory, Tesla 's (NASDAQ: TSLA) vehicle production in China has found its stride.
The company sold 83,135 China-made vehicles in wholesale in September, according to the latest data from the China Passenger Car Association.
That's a record for Tesla and an impressive number to be sure, but Tesla is still facing stiff competition from China-based electric vehicle companies , including EV giant BYD (OTC: BYDDY) . The good news for Tesla investors is that the company doesn't need to dominate market share to benefit from China's growing EV market.
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Tesla Broke Its Monthly Sales Record in China -- but It Hasn't Caught Up to This Automaker Just Yet