China EV Sales Up 24.4% in June, Stock Rallies 15% After FSD Update
TSLA•Tesla’s China-made electric vehicle sales rose 24.4% year-on-year in June, bolstered by a sustained recovery in European deliveries. The automaker’s stock jumped 15% following a full-self-driving software update and the NHTSA’s closure of the phantom braking probe, which found no safety incidents and low risk after software fixes.
1. Sales Growth in China and Europe
Tesla's China-made electric vehicle sales rose 24.4% year-on-year in June, driven by an extended recovery in European deliveries. This marks the eighth consecutive month of growth for vehicles produced in its Shanghai factory.
2. FSD Update Sparks Stock Rally
A new full-self-driving software update rolled out this week, reinforcing the company’s autonomy strategy and triggering a 15% surge in Tesla’s share price. The update included enhanced navigation features and improved object recognition algorithms.
3. Phantom Braking Probe Closed
The National Highway Traffic Safety Administration has closed its investigation into phantom braking complaints after finding no linked crashes and assessing the risk as low. Tesla deployed an over-the-air software fix to address reported false braking events.
