Tesla China Shipments Rose in August on Trade-In Subsidy Boost

(Bloomberg) — Tesla Inc. increased vehicle shipments from its Shanghai factory for a second consecutive month after China’s government doubled a subsidy encouraging drivers to trade in older cars for electric models.

The automaker shipped around 86,697 Model 3 sedans and Model Y sport utility vehicles in August, according to preliminary data released Monday by China’s Passenger Car Association (PCA). That’s up roughly 3% from a year ago and points to some momentum for the plant following a first-half slowdown.