In April, Tesla Giga Shanghai's wholesale vehicle shipments (local retail sales and exports) noticeably decreased, deepening the year-to-date decline.
According to the China Passenger Car Association's (CPCA) initial data, the wholesale shipments of Tesla's Made-in-China (MIC) Model 3/Model Y cars last month amounted to 62,167, 18% less than a year ago.
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Tesla Giga Shanghai EV factory
The Tesla Giga Shanghai factory is the world's largest all-electric car manufacturing plant. In 2023, it produced close to 950,000 Model 3 and Model Y cars. Tesla EVs from Shanghai are sold mostly in China, while exports represent more than a third of the volume.
Recent results indicate that Tesla might lose its steam in China in 2024. In 2023, sales were still growing, although noticeable price cuts were required.
* CPCA reports wholesale shipments (closely related to production), not registrations/customer deliveries.
It is still too early to say how significant the issues are, but it seems that this year will be very challenging, mainly because Chinese manufacturers are engaged in the price war.
Tesla MIC Model 3/Model Y wholesale shipments last month (YOY change):
- Total wholesale shipments: 62,167 (down 18%)
So far this year, the total wholesale sales exceeded 283,000 units, 7% less than a year ago.
Tesla MIC Model 3/Model Y wholesale shipments year-to-date (YOY change):
- Total wholesale shipments: 283,043 (down 7%)
For reference, in 2023, the total wholesale sales almost reached 950,000 units, up 33% year-over-year.
A report earlier this year stated that the factory would slow down production. If local sales and exports are lower than a year ago, a reduction in production might be necessary.
As of today, the initial CPCA data does not include April retail sales and export numbers or individual results for the two models.
Through March, Tesla's exports amounted to 88,456 (down 3.7%), while retail sales in China (calculated as a difference between total and exports) amounted to 132,420 (down 3.6%).
Below, we share the total wholesale sales of the Model 3 and the Model Y through March 2024.
