Tesla’s EV retail sales and exports in China surge during 2023

Tesla’s EV retail sales and exports in China surge during 2023

In the dynamic landscape of China's electric vehicle (EV) market, American electric car pioneer Tesla’s Giga Shanghai factory achieved a remarkable success in 2023 as the MIC Model 3 and Y witnessed a noteworthy surge in wholesale shipments. As per stats published by the China Passenger Car Association (CPCA), wholesale shipments of Tesla’s MIC Model 3 and Model Y surged due to strong domestic demand as well as a remarkable increase in exports.

In the month of December last year, the American EV giant’s wholesale shipments of MIC Model 3 and Model Y reached 94,139 units. The majority of these EVs, totaling 75,805 units, were designated for local sales in China, while exports contributed significantly with shipments of 18,334 units. The figure of EVs designated for local sales in China reflected a remarkable 81 per cent year-over-year increase, while exports demonstrated a commendable 32 per cent growth from the corresponding month of 2022.

The whole of 2023 proved to be a remarkable year for the American automaker in China, with its total wholesale shipments approaching an impressive 950,000 units. This marks a substantial 33 per cent growth compared to the previous year, highlighting the continued momentum and production capabilities of the Giga Shanghai manufacturing plant. Notably, retail sales within China and exports to other countries experienced positive growth trends throughout the year under review.

Retail sales of Tesla’s battery-powered vehicles in the Chinese market jumped 37 per cent year-over-year to 603,664 units, while exports jumped 27 per cent to settle at 344,078 units. Total wholesale shipments for the whole year reached 947,742 units, marking a notable 33 per cent year-over-year jump.

In December also, the wholesale shipments of the for the electric sedan and electric crossover SUV exhibited noteworthy results. The MIC Model 3 accounted for 31,981 units (up 60 per cent) with a year-to-date total of 302,362 units; while the MIC Model Y accounted for 62,158 units (up 74 per cent) with a year-to-date total of 645,380 units.

Tesla's aforementioned outstanding performance in terms of wholesale shipments not only reflects the brand's popularity and market resonance but also positions its Giga Shanghai manufacturing plant as a key export hub for EVs on a global scale. The brand’s success in China is an unquestionable testament to its innovation, production prowess, and growing prominence in the field of sustainable transportation.