Data from the China Passenger Car Association (CPCA) has revealed that Tesla China’s wholesale results for April 2024 was 62,167 units. The numbers are quite similar to February 2024, a month whose results were slowed down by the 2024 Chinese New Year holiday.
Tesla China’s 62,167 wholesale units for April include vehicles that were both sold domestically and abroad. They are, however, down 18.03% from the 75,842 that were sold a year ago and down 30.20% from March 2024’s 89,064 wholesale units. For context, Tesla China’s wholesale results for February 2024 was at 60,365 units.
As per CNEV Post, Tesla China’s April numbers suggest that the electric vehicle maker sold 283,043 vehicles from January to April, 2024. These numbers represent a 7.25% decline from the 305,164 vehicles that were sold during the same period in 2023.
Tesla China operates Giga Shanghai, the company’s largest factory by volume and primary export hub. Giga Shanghai only produces the Model 3 sedan and Model Y crossover, but the vehicles are sold from China to Europe. Both the Model 3 and Model Y are Tesla’s mass market cars and comprise the lion’s share of the company’s sales.
China is the largest market for electric vehicles in the world, but it is also the most competitive. Homegrown EV companies like NIO and Xiaomi have made China a very competitive market, and automakers like BYD are saturating China with low-cost new energy vehicles (NEVs). Tesla China, for its part, still largely relies on the Model 3 sedan and Model Y crossover, both of which are premium cars.
Tesla China has implemented a number of initiatives to promote its vehicles to domestic consumers. In the beginning of April 2024, Tesla China rolled out a price increase for the Model Y’s three variants. This was quite interesting as other automakers were implementing price reductions at the time. Tesla eventually implemented a price cut for its vehicle lineup a few weeks later, however, as well as incentives such as a zero downpayment plan.
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