Saturday, July 13, 2024

Tesla China Sells 59,261 Electric Vehicles in June

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Tesla reported a sequential uptick in electric vehicle (EV) sales in China for June, with the company’s local deliveries showing a recovery pattern despite a decline in exports, data from the China Passenger Car Association (CPCA) revealed on Thursday.

The U.S. electric carmaker sold a total of 71,007 vehicles in China last month, including 11,746 units earmarked for international markets. This reflects a 7.33% increase from May, although it marks a 20.15% decrease compared to the same period last year when the company sold 74,212 vehicles.

Tesla’s manufacturing facility in Shanghai, which produces both the Model 3 sedan and Model Y crossover, serves dual roles as a domestic supplier and an export base. The company typically allocates its production for exports in the first half of each quarter, followed by prioritizing local market deliveries in the latter half, a strategy aimed at balancing global demand dynamics.

Of the total sales in June, the Model Y accounted for 43,951 units, comprising 61.90% of Tesla China’s sales, while the Model 3 contributed 27,056 units, representing 38.10% of the total. Both models saw declines compared to last year, with the Model Y down 30.28% and the Model 3 down 11.69% year-on-year.

While retail sales figures specifically for the Model 3 and Model Y in China have yet to be disclosed, the broader new energy vehicle (NEV) market in the country saw robust growth. Retail sales of NEVs surged 28.6% year-on-year in June, reaching 856,000 units, driven by strong demand for both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).

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