Tesla To Increase EV Prices In China After Seeing Improved Sales In October: Report

Chinese media reports that prices will go up tomorrow.

By: Mark Kane

Nov 8, 2023 at 9:00am ET

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Additional sales data from China reveals Tesla's exports and retail sales in the world's largest electric car market for the month of October.

According to the China Passenger Car Association's (CPCA) data, the overall volume of Tesla MIC Model 3/Model Y wholesale vehicle shipments last month amounted to 72,115 units, which is barely 0.6 percent more than a year ago.

* CPCA reports wholesale shipments, not registrations/customer deliveries.

Out of that number, 28,626 units were sold in China (up 66 percent year-over-year) and 43,489 units were exported (down 20 percent year-over-year).

We guess that November will bring higher volume, especially when it comes to retail sales in China. That's because of the ramp-up of production and deliveries of the significantly upgraded Model 3 (code name Highland) and slightly updated Tesla Model Y.

Tesla MIC Model 3/Model Y wholesale shipments last month (YOY change):

Retail sales in China: 28,626 (up 66%)
Export: 43,489 (down 20%)
Total wholesale shipments: 72,115 (up 1%)

Tesla MIC Model 3/Model Y wholesale shipments - October 2023

Tesla MIC Model 3/Model Y wholesale shipments year-to-date (YOY change):

Retail sales in China: 462,355 (up 38%)
Export: 308,816 (up 41%)
Total wholesale shipments: 771,171 (up 39%)

Retail Sales in China

Export

One of the most interesting things is that Tesla is expected to increase Model 3 and Model Y prices in China. According to unofficial reports (via CnEVPost), the price increase might happen on November 9.

The question is whether it will be a significant change and if it's somehow related to a potentially higher demand for the updated Tesla cars.?

What do you think?

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Model Sales

The detailed sales data for individual model sales in China is available only through September. The Model 3 was down in September because of the switchover to a new version.