Tesla’s Model 3 and Model Y are experiencing reduced wait times for their full range of variants in China, suggesting a potential softening in demand for the electric vehicle (EV) maker. Both models now boast shorter wait times of 1-6 weeks, down from the previous 3-6 weeks for Model 3 and 2-6 weeks for Model Y variants.
The adjustment in delivery wait times is a notable shift, as the last time Tesla models in China saw such short wait times was on December 26, 2022, when the entire lineup of Model 3 and Model Y had a wait time of 1-4 weeks, according to CnEVPost’s daily monitor.
Tesla’s Model 3 is offered in China in three variants, including an entry-level rear-wheel drive version, a long-range all-wheel drive version, and an all-wheel drive performance version, with prices starting from RMB 231,900 ($32,000). The latest Model 3 performance variant commenced pre-sales in China in late April and entered formal sales on June 2, with initial deliveries slated for mid-June.
Similarly, the Model Y in China comes in three variants, featuring an entry-level rear-wheel drive version, a long-range all-wheel drive version, and an all-wheel drive performance version, with prices starting from RMB 249,900.
While the wait times for locally produced models have decreased, the wait for the Model S and Model X, which are not manufactured locally, remains in the fourth quarter, as indicated on Tesla China’s website.
Tesla’s Shanghai factory, with an annual production capacity exceeding 950,000 vehicles, serves as the company’s largest production facility globally. Besides catering to local consumers, the factory also serves as an export hub for Tesla vehicles.
Reuters reported on May 24 that Tesla’s Shanghai factory intended to reduce Model Y production by at least 20 percent from March to June, suggesting a strategic adjustment in response to market conditions.
Tesla’s sales in China reflected a slight dip, with 72,573 vehicles sold in May and 355,616 vehicles in the January-May period, down 7.12 percent from the same period last year. Sales data for Tesla’s May sales in China and exports from the Shanghai factory are yet to be released.
