Why Tesla Shares Are Rising

Tesla, Inc. TSLA shares are trading higher after The China Passenger Car Association reported the company sold approximately 56,000 vehicles in China over the month of September.

According to a Investor's Business Daily Report, Tesla sales wholesales were 56,006, signaling another big jump in overall production as well. That includes 52,133 local, retail sales and 3,853 vehicles for export. Local sales included 33,033 made-in-China Model Y crossovers, which is the cheaper, lower-range made-in-China Model Y.

Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally.

Tesla's stock was trading about 2% higher at $807.70 per share on Tuesday at the time of publication. The stock has a 52-week high of $900.40 and a 52-week low of $379.11.