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Tesla Motors Inc (NASDAQ: TSLA)'s March sales in China grew between 130 percent and 150 percent compared to one month earlier, according to a new report. The data comes according to the official Chinese news agency Xinhua, reported by Bloomberg.
Shares of Tesla rose more than 1 percent in Monday's after-hours trading in response to the figures.
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About 260 units of Tesla's Model S were licensed in February, according to the South China Morning Post, quoting JL Warren Capital.
That's a 45 percent decline from January, the newspaper said.
Firings
Earlier this month, Tesla cut an unknown number of jobs in China, in the wake of what the company has called disappointing sales.
Tesla began China deliveries a year ago and obtained 2014 revenue there of $477 million, out of total revenue of $3.2 billion.
The Palo Alto-based Tesla operates nine stores and service centers in six Chinese cities. Despite challenges there, Tesla believes that the country could be one of its largest markets within a few years.
Tesla changed hands recently at $193.72, up $3.15 in extended trading after closing up about 3 percent Monday.
'A Major New Product Line'
Earlier on Monday, Chief Executive Elon Musk said a "major new product line" will be unveiled next month, but didn't offer further details.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.