Tesla (NASDAQ: TSLA) achieved record-breaking retail sales in China last month, taking advantage of the year-end car-buying frenzy. According to data released by the China Passenger Car Association (CPCA), Tesla China sold a total of 93,766 vehicles in December, including 10,839 units for export.
This milestone marks the highest number of vehicles ever sold by the US electric vehicle (EV) manufacturer in China in a single month. When considering exports, Tesla China’s total sales in December amounted to 82,927 vehicles, surpassing previous records.
In a recent announcement, Tesla China revealed that it had sold approximately 83,000 vehicles in China in December, although specific figures were not provided at the time. Compared to the previous year, Tesla’s sales in China last month increased by 9.40%, reaching 82,927 units. This figure also represented a 12.84% increase from November’s sales of 73,490 vehicles.
Tesla operates a factory in Shanghai where it produces the Model 3 sedan and Model Y crossover for both local deliveries and international exports. The company follows a production schedule that prioritizes exporting vehicles in the first half of the quarter and fulfilling local market demands in the second half.
In December, the Shanghai plant’s exports experienced a 40.88% decrease compared to the same period the previous year but rose by 101.99% from November’s figures. Overall, including exports, Tesla China’s sales in December decreased by 0.40% year-over-year but increased by 18.91% from November.
During the fourth quarter, Tesla’s retail sales in China reached 196,902 units, marking a 15.87% increase from the previous year and an 8.26% increase from the third quarter. These sales accounted for 39.73% of Tesla’s global deliveries for the quarter.
When including exports, Tesla China sold a total of 240,902 vehicles in the fourth quarter, contributing 48.61% to the company’s global deliveries during that period.
For the entirety of 2024, Tesla China sold 916,660 vehicles, including exports, reflecting a 3.28% decrease from the previous year. However, the company’s retail sales in China for the year totaled 657,102 vehicles, showing an 8.85% increase from 2023. Additionally, the Shanghai plant exported 259,558 units in 2024, marking a 24.56% decrease compared to the previous year.
Overall, Tesla’s impressive performance in China highlights the company’s continued growth and success in one of the world’s largest EV markets. With a strong presence in the region and a dedicated manufacturing facility in Shanghai, Tesla is well-positioned to capitalize on the increasing demand for electric vehicles in China and beyond.
