Tesla's Sales Of Chinese-Made EVs Finally Rebounded

In July, Tesla Giga Shanghai's wholesale vehicle shipments, including local retail sales in China and exports, increased year-over-year for the first time in a few months.

According to the China Passenger Car Association's (CPCA) initial data, the wholesale shipments of Tesla's Made-in-China (MIC) Model 3/Model Y cars last month amounted to 74,117 (up 15% year-over-year).

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Tesla Giga Shanghai EV factory

The Tesla Giga Shanghai factory is the world's largest all-electric car manufacturing plant. In 2023, it 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.

It's a positive sign considering the decline in the previous months, although it's too early to say that Tesla solved the slowdown issue.

* CPCA reports wholesale shipments, which are closely related to production. However, this figure does not necessarily represent registrations/customer deliveries.

The market situation remains challenging, and even BYD's all-electric car sales went down year-over-year in July.

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

• Total wholesale shipments: 74,117 (up 15%)

So far this year, Tesla's total wholesale sales amounted to 500,740 units, which is 7.4% less than a year ago at this point

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

• Total wholesale shipments: 500,740 (down 7%)

For reference, in 2023, the total wholesale sales almost reached 950,000 units, up 33% year-over-year.

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As of today, the initial CPCA data does not include July retail sales and export numbers or individual results for the two models. However, during the January-June period, both categories were down by 5.4% and 18.7% year-over-year, respectively.

Below, we share the total wholesale sales of the Model 3 and the Model Y through June 2024. Model 3's total volume slightly increased in the first half of the year, reaching 169,644 units (up 6%), while the Model Y was down nearly 19% year-over-year at 256,979.

 

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