Tesla’s retail sales in China showed a positive trend in June, with a 3.75 percent year-on-year growth, marking a reversal from two consecutive months of decline. The US EV maker sold 61,484 vehicles in China last month, the second-highest monthly figure for the year, following March’s 74,127 units. This increase in sales can be attributed to the allocation of more local production capacity for domestic deliveries.
In the first half of the year, Tesla sold a total of 263,410 vehicles in China, which represents a 5.36 percent decrease compared to the same period last year. Despite this slight decline, the overall performance in the Chinese market remains strong.
Tesla operates a factory in Shanghai, known as Giga Shanghai, which produces the Model 3 sedan and Model Y crossover. The factory serves both domestic customers and acts as an export hub. In June, Giga Shanghai exported 10,115 vehicles, showing a 13.89 percent decrease from the same month last year.
China’s new energy vehicle (NEV) retail sales in June reached 1.11 million units, a significant increase of 29.7 percent year-on-year. Tesla’s market share in China’s NEV market in June was 5.53 percent, slightly lower than the previous year but higher than the previous month.
The wholesale sales of Tesla’s Model Y saw a notable increase in June, with a total of 51,253 units sold, marking a 16.61 percent growth from the same period last year. On the other hand, the Model 3’s wholesale sales decreased by 24.80 percent year-on-year, with 20,346 units sold in June.
In the second quarter, Tesla’s retail sales in China totaled 128,803 units, representing an 11.72 percent decrease compared to the previous year. Despite this decline, Tesla’s global deliveries in the second quarter showed a positive trend, with a total of 384,122 vehicles delivered worldwide.
As part of its strategy in the Chinese market, Tesla has raised the price of the long-range Model 3 to RMB 285,500 and extended the range to 753 km. This move aims to cater to the growing demand for electric vehicles in China and enhance Tesla’s competitive position in the market.
