Tesla Bucks China Car Slump as November Registrations Soar
- A 14-fold jump sends registrations to five-month high
- Carmaker is poised to start delivering locally built sedans
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Tesla Inc. bucked the downturn in the world’s biggest electric-vehicle market last month as its new-car registrations in China soared 14-fold, giving the Model 3 maker some momentum as it prepares to begin deliveries from its Shanghai factory.
Registrations of Tesla vehicles climbed to a five-month high of 5,597 in November, compared with 393 a year earlier, according to state-backed China Automotive Information Net, which gathers and reports car-industry data. Tesla shares traded lower after opening up 2.2% to $413, a new intraday record.