Tesla’s China-Made EV Sales Rise For 12th Straight Month – European Recovery Adds To Momentum

• Wholesale sales, which include domestic deliveries and exports, fell 28.9% sequentially.
• Tesla’s October vehicle registrations surged 248% in Sweden, 131% in Norway and 34% in Denmark, according to Reuters.
• Tesla’s Shanghai factory could prove to be the biggest roadblock in the TSLA-SPCX merger, according to Bank of America.

Tesla’s (TSLA) China-made electric vehicle sales extended their annual growth streak to 12 consecutive months in October, as the EV maker recorded a sharp recovery across several European markets despite growing competition from Chinese automakers.

TSLA shares edged 1% higher in pre-market trading on Tuesday.

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Tesla’s Shanghai-Made EV Sales Jump 10%

According to a report by CNEVPost on Tuesday, Tesla sold 67,829 Model 3 and Model Y vehicles manufactured at its Shanghai facility in October, up 10.3% year over year.

However, wholesale sales, which include domestic deliveries and exports, fell 28.9% sequentially, reaching their lowest level since February. Despite the sequential decline, Tesla’s China-made vehicle sales rose 21.4% year over year to 810,889 units during the first 10 months of 2026.

Tesla Stages Strong European Recovery

Meanwhile, Tesla continued its European recovery, with October vehicle registrations surging 248% in Sweden, 131% in Norway and 34% in Denmark, according to Reuters. Registrations also climbed 271% in Spain, 186% in Portugal and 94% in Italy.

The rebound was supported by higher fuel prices, government incentives and rising EV demand, the report read.

While Tesla emerged as Norway’s top-selling brand in October, competition remained intense in Denmark, where it was outperformed by Chinese rivals BYD, Leapmotor, Xpeng and MG.

Why Is Tesla’s Shanghai Factory In Focus?

Tesla’s Shanghai factory has an installed annual production capacity exceeding 950,000 vehicles, making it one of the company’s most important manufacturing and export hubs. However, the facility is in the spotlight due to potential complications in the merger between Tesla and SpaceX (SPCX).

Last week, Bank of America flagged China as the biggest regulatory risk to the proposed combination, as the merger would bring Tesla’s Shanghai operations under the ownership of a major U.S. defense contractor.

The brokerage warned that national security concerns could complicate Chinese regulatory approval. Former Tesla board member Steve Westly had also highlighted similar concerns over the merger recently.

Retail Turns ‘Extremely Bearish’ On TSLA

Retail sentiment for TSLA on Stocktwits turned ‘extremely bearish’ from ‘bearish’ over the past 24 hours.

TSLA shares are down more than 7% so far this year, but a sharp rally over the last three months has seen the stock gain more than 29%

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