Data from the China Passenger Car Association (CPCA) has revealed that Tesla sold a total of 71,447 China-made vehicles in January 2024. These results, which include vehicles that are sold domestically and exported abroad, represent an 8.17% year-over-year increase compared to January 2023 and a 24.1% month-over-month decrease from December 2023.
For context, Tesla China sold 66,051 vehicles in January 2023. The electric vehicle maker also sold a total of 94,139 Giga Shanghai-made vehicles in December 2023.
Gigafactory Shanghai, which boasts an annual production capacity of over 950,000 vehicles, currently produces the Model 3 sedan and Model Y crossover. Vehicles produced at the facility are sold in the domestic market and exported abroad. Giga Shanghai is Tesla’s primary export hub, and it is also the company’s largest facility by volume.
Tesla China January wholesale: 71,447 units
— Kelvin Yang (@KelvinYang7) February 2, 2024
(CPCA) pic.twitter.com/FDO4Ro9Wvn
A breakdown of Tesla China’s local deliveries and exports for January is currently unavailable, though expectations are high that the figures will be released in the coming weeks.
Tesla’s production strategy historically involves prioritizing vehicles for export in the first half of each quarter, followed by a shift towards the local market in the latter half. This trend, however, has somewhat shifted in the past quarters, as Tesla has been observed exporting cars until the final weeks of a quarter. This was the case in Q4 2023, with Tesla exporting vehicles until December.
It should be noted that the start of the year is typically a slow period for the Chinese auto market. That being said, the CPCA expects wholesale figures of passenger New Energy Vehicles (NEVs) in January 2024 to be at around 700,000, as noted in a CNEV Post report. This would represent an 80% year-over-year increase and a 37% month-over-month decrease.
For context, BYD, which overtook Tesla as the world’s largest electric car maker in late 2023, sold 201,493 NEVs in January. This represents a 33.14% year-over-year improvement and a 40.92% decrease from December. It should be noted, however, that BYD’s NEV sales include hybrids, as well as battery electric cars that are far more affordable than the Giga Shanghai-made Model 3 and Model Y.
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