Tesla deliveries seen rising as China incentives lure EV buyers

STORY: Tesla is expected to report an 8% jump in third-quarter deliveries of its electric vehicles on Wednesday (October 2).

That's according to Wall Street estimates.

The jump is said to be driven by extended incentives and financing plans in China.

Tesla introduced a range of offers in the country this spring, including insurance deals and discounts.

That was in response to slower Chinese spending and rising competition from local rivals.

Industry data from China showed the move helped the U.S. automaker boost sales in July and August after two straight quarters of falling deliveries.

Some analysts believe the positive trend continued through the quarter, and expect the Elon Musk-led company to deliver close to 470,000 vehicles.

It would be Tesla's best third quarter, and well up from last year.

Sales in China were also boosted by higher government subsidies meant to encourage consumers to buy battery-powered vehicles.

Musk earlier this year said Tesla was on track for higher deliveries in 2024.

But the firm still faces slowing demand for EVs in the U.S. and a lack of subsidies in Europe.

That leaves it with a challenge to beat last year's total - something analysts say will be crucial to easing fears over global demand for electric cars.