Transportation
Tesla Sales Perk Up After China Boosts Electric Vehicle Subsidy
- Analysts see carmaker delivering 7% more EVs than a year ago
- Strong China demand helps offset weakness in US and Europe
China’s government recently doubled a subsidy encouraging drivers to trade in older cars for electric models, which helped boost demand the last several months.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Tesla Inc. is expected to post its first quarterly sales increase this year after car buyers in China, the world’s largest electric vehicle market, seized on a sweetened government incentive.
The automaker likely delivered around 463,900 cars worldwide in the third quarter, roughly 7% more than the same period last year, according to analysts surveyed by Bloomberg. China’s government recently doubled a subsidy encouraging drivers to trade in older cars for electric models, which helped boost demand the last several months.