Sales of the Tesla Model 3/Model Y electric cars in China and exports from China just reached one of the highest results ever in June.
According to the China Passenger Car Association (CPCA)'s initial data, the overall wholesale vehicle shipments (local retail sales and export) last month amounted to 93,680 units.
That's 18.7 percent more than a year ago and the second-highest result ever (compared to 100,291 in November 2022 and 88,869 in March 2023).
* CPCA reports wholesale shipments, not registrations/customer deliveries.
The recent result, and the continuous year-over-year growth so far this year, indicate that Tesla's price reduction and other incentives (like insurance promotions) were more than enough to keep the Tesla Giga Shanghai busy. Export to new markets, like Canada, also contributed to the growth.
During the second quarter of 2023, Tesla's wholesale vehicle shipments of the Made-in-China (MIC) Model 3 and Model Y amounted to 247,217 (up 120 percent year-over-year, although a year ago results were significantly constrained by a lockdown).
Interestingly, that's more than half of Tesla's 466,140 Model 3/Model Y global deliveries in Q2, although we must remember that deliveries and wholesale numbers are not an apples-to-apples comparison, but just a very rough indicator. The main conclusion is that the plant in Shanghai is crucial for Tesla's results.
So far this year, the total wholesales of MIC cars increase by almost 62 percent year-over-year to 476,539.
It's worth noting also that the 12-month rolling volume is approaching 900,000 units, proving that the Tesla Giga Shanghai plant is the world's largest electric car manufacturing plant, with a potential peak output believed to be noticeably above 1 million units annually.
Retail Sales In China And Export
As of today, the initial CPCA does not include numbers for retail sales and export, as well as individual results for the two models, so the only thing we have are the numbers through May 2023.
In the past, the final month of a quarter was focused on retail sales in China.