Tesla extends growth streak as China-made EV sales climb 39.4%
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Tesla's Shanghai-produced Model 3 and Model Y deliveries reached 85,982 units in May 2026, up 39.4% year-on-year and 8.2% month-on-month, marking a sixth consecutive month of annual growth and reinforcing EV adoption. Despite a 112.8% surge in Spanish registrations in May (1,690 units) and a 43.8% year-to-date gain, Tesla shares fell in premarket trade as investors assess market impact and security/competition risks from OpenAI's robotics push.
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Tesla's China-made electric vehicle sales rose sharply in May, extending a six-month streak of year-on-year growth as the company continued to navigate increasing competition from domestic Chinese automakers.
Data released by the China Passenger Car Association (CPCA) on Tuesday showed that deliveries of Tesla's Model 3 and Model Y vehicles produced at its Shanghai factory reached 85,982 units in May.
The figure, which includes vehicles exported to Europe and other international markets, was up 39.4% from a year earlier and increased 8.2% from April.
Shanghai plant output supports growth
The Shanghai facility remains a key manufacturing centre for Tesla, supplying both the domestic Chinese market and overseas destinations.
The increase in May deliveries marked the sixth consecutive month of annual growth for China-made Tesla vehicles.
Tesla records strong sales growth in Spain
Tesla also reported strong performance in Spain, where new vehicle registrations more than doubled during May.
Registration data released by industry group ANFAC on Monday showed Tesla sold 1,690 vehicles in Spain during the month.
That represented a 112.8% increase compared with May of the previous year.
The strong monthly result added to Tesla's gains in the Spanish market during 2026.
According to ANFAC, Tesla's vehicle sales in Spain increased 43.8% during the first five months of 2026 compared with the same period a year earlier.
The broader market for electrified vehicles also expanded significantly.
Total sales of electrified vehicles, including fully electric vehicles and hybrid models, rose 43.6% during the first five months of the year.
The figures suggest that demand for electrified vehicles continued to strengthen in Spain, with Tesla's growth largely tracking the broader market trend.
Shares decline despite sales momentum
Despite the strong sales performance in both China and Spain, Tesla shares moved lower in premarket trading on Monday.
The decline came even as broader US equity futures pointed higher.
Robotics competition draws investor attention
The weakness in Tesla shares followed comments from OpenAI Chief Executive Officer Sam Altman regarding the company's plans to expand into robotics.
The development adds another chapter to the long-running rivalry between Altman and Tesla Chief Executive Officer Elon Musk.
The two executives have previously disagreed over the direction of OpenAI.
Musk had sued Altman over OpenAI's transition from a charitable organisation to a for-profit company.
However, Altman ultimately prevailed in the legal dispute after a jury rejected Musk's claims.
One factor cited was that Musk had waited too long to bring the lawsuit.
As OpenAI expands further into robotics, investors are expected to closely monitor how increased competition could affect Tesla's ambitions in the sector.
Musk has previously described robotics as one of the company's most important future businesses.
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