September brought-in good news for Tesla (TSLA) in China. The company sold over 56,000 China-made cars in the month.
The China Passenger Car Association (CPCA) said that total marks the highest sales volume since the opening of Tesla’s Shanghai gigafactory in 2019.
CPCA's data showed that Tesla car sales have increased by 27% compared to August.
"The figures contrasted sharply to a near 20% decline in overall China car sales, the fifth consecutive month of declines, as the nation's power crisis, and the ongoing semiconductor shortage, lingers over the industry," writes TheStreet's Martin Baccardax.
Tesla shares have been trading higher since the market opened this morning.