Tesla China-Made EV Wholesale Sales Surged In December 2023

The Shanghai factory continues to produce more than half of all Tesla EVs globally.

Tesla Model 3 (Highland)

Mark Kane

By: Mark Kane

Jan 7, 2024 at 12:05pm ET

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In December, Tesla significantly increased its overall wholesale Made-in-China (MIC) vehicle shipments (local retail sales and exports).

It seems that Tesla's Shanghai plant is now producing new electric cars at a near-record rate, remaining the company's largest EV factory in terms of volume.

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Tesla Giga Shanghai EV factory

The Tesla Giga Shanghai factory is the world's largest all-electric car manufacturing plant, which in 2023 produced close to 950,000 Model 3 and Model Y cars. Tesla EVs from Shanghai are sold mostly in China, while exports represent more than a third of the volume.

According to the China Passenger Car Association's (CPCA) initial data, the overall wholesale shipments of Tesla MIC Model 3/Model Y cars last month amounted to 94,139 units, which is 69% more than a year ago and the best monthly result in 2023.

Only November 2022 with 100,291 units was better, indicating that the plant is very busy right now after the significantly upgraded Model 3 (code name Highland) and the slightly updated Tesla Model Y in China entered the market.

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

That's positive news after a few months of no growth or a year-over-year decline. In the coming days, we should get the local retail sales/export data to better understand Tesla's situation in China.

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

Total wholesale shipments: 94,139 (up 69%)

During the fourth quarter of 2023, Tesla's wholesale shipments amounted to 248,686, which is 9% more than a year ago and the best quarter ever.

In 2023, the total wholesale sales almost reached 950,000 units, which is 33% more than a year ago and the best year ever.

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

Total wholesale shipments: 947,742 (up 33%)

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It's worth noting that the Shanghai factory was responsible for more than half of Tesla's total all-electric car deliveries globally—both in Q4 (484,507) and in 2023 (1,808,581).

As of today, the initial CPCA data does not include numbers for retail sales and exports or individual results for the two models.