Tesla's October Sales Figures

BEIJING (Reuters) – U.S. automaker Tesla (NASDAQ:TSLA) sold 68,280 China-made electric vehicles in October, a decrease of 5.3% from the previous year, as reported by the China Passenger Car Association (CPCA) on Monday.

Deliveries of China-made Model 3 and Model Y vehicles declined by 22.7% compared to the prior month.

In contrast, Chinese competitor BYD (SZ:002594) achieved a monthly record, posting a 66.2% year-on-year surge in passenger vehicle sales, totaling 500,526 units last month. Overseas shipments comprised 6% of total sales, according to BYD's filing.

Tesla’s third-quarter earnings exceeded forecasts after accounting for layoffs in the previous quarter. The company also recorded its first annual gain in deliveries this year, largely due to sales promotions. While it outsold BYD in EV shipments last quarter, BYD outperformed Tesla in revenue.

In late October, Tesla extended a zero-interest financing scheme, initially launched in July for certain Model 3 and Model Y vehicles, for an additional month, now set to last until the end of November.