Tesla's China-made EV sales grew 10.3% year-on-year in October, the 12th straight month of annual growth. Sales fell 28.9% from September, though. Separately, Tesla cut its capital expenditure outlook and reported positive third-quarter free cash flow.
Tesla's China-made electric vehicle sales grew at a faster annual pace in October, according to data from the China Passenger Car Association published on Tuesday.
Deliveries of Model 3 and Model Y vehicles built at the Shanghai plant, including exports to Europe, Asia Pacific and Canada, rose 10.3% year-on-year to 67,829 units. That compares with a 5% annual rise in September and marks a 12th straight month of annual growth.
On a monthly basis, however, sales fell 28.9% from September.
Registrations of new Tesla vehicles also surged across several European markets in October, extending a rebound in the company's regional sales. In South Korea, Tesla led imported car sales, a market that took one fifth of Shanghai-made Tesla exports in the first nine months.
Meanwhile, Tesla lowered its annual capital expenditure outlook by a fifth and surprised investors with positive third-quarter free cash flow, as spending on its AI and robotics push came in well below analysts' expectations.
A potential merger between Tesla and SpaceX will likely face regulatory scrutiny on both sides of the Pacific, with national security and data and technology transfer concerns posing a major obstacle.
Source: Investing.com
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