Tesla Stock: China Sales Strong, Earns Street-High $1,580 Price Target

Tesla Shanghai sold 52,859 made-in-China Model 3 sedans and Model Y crossover SUVs in November, including 21,127 exported. In October, Tesla sold 54,391 China-made vehicles, including 40,666 for export. Most of those exports go to Europe. Tesla Shanghai exports most of its production in the first month of a quarter and much of it in the second month, such as November.

Tesla's upcoming Berlin factory is expected to eventually produce the bulk of Tesla's vehicles destined for European customers, starting with the Model Y. However, the plant's opening has been delayed several times. The shows Berlin will be in operation sometime in December, although the production ramp up is expected to be slow.