Tesla China sold 74,117 vehicles wholesale in July 2024, marking a robust start to the second half of the year, according to data from the China Passenger Car Association (CPCA). This figure represents a 4.38% increase from the 71,007 vehicles sold wholesale in June 2024 and a 15.29% year-over-year rise from the 64,285 units sold in July 2023.
The strong performance in July is encouraging for Tesla’s Giga Shanghai, which is expected to maintain high output levels in the third and fourth quarters. Industry analysts noted that Tesla China’s export activities remained consistent last month, despite new tariffs in Europe on electric vehicles imported from China, including those from Giga Shanghai.
$TSLA pic.twitter.com/XOBIxW0lGS
— Tsla Chan (@Tslachan) August 2, 2024
With the addition of July’s sales, Tesla China has sold 500,740 vehicles wholesale from January to July 2024. Although this represents a 7.41% year-over-year decrease, the recent figures bode well for the company’s targets for the rest of the year. CEO Elon Musk previously expressed optimism about improving sales in 2024, emphasizing the need for Giga Shanghai to operate at high productivity levels.
Today we received the Giga Shanghai wholesale number for July from CPCA. 🇨🇳
Since we roughly know the China sales from the weekly insurance number, we can calculate the exports. And it doesn't look like Tesla exported less compared to other first months of the quarter due to the… https://t.co/0iFPnAmNTZ pic.twitter.com/hgRYMFLt02
— Roland Pircher (@piloly) August 2, 2024
Earlier this year, Reuters reported potential production cuts at Giga Shanghai. However, local media recently observed that the facility was back to full capacity. Given this, it is anticipated that Tesla China’s sales in the upcoming months could match or exceed July’s impressive 74,117 units.
