Tesla’s stock surged more than 2% on news that sales in China are showing strong performance despite announcing another recall of electric trucks.
On the 25th, Tesla recorded a 2.61% increase in New York Stock Exchange trading, reaching $187.35.
The National Highway Traffic Safety Administration (NHTSA) announced the recall of 11,688 Tesla Cybertruck vehicles due to a potential safety risk related to front windshield wiper malfunctions, which could increase the risk of accidents.
However, the news of improved sales in China has been reported. According to the China Association of Automobile Manufacturers, a total of 17,400 Tesla vehicles were sold in China from June 17 to 23. This represents a significant 49% increase from sales the previous week of 11,700 units.
As a result, Tesla appears to have successfully ended the day with a rise in its stock price despite the recall setback.