It appears that Tesla China’s domestic vehicle sales have reached their highest level this year so far in August 2024. During the month, Tesla China is estimated to have sold 63,456 vehicles in the domestic auto market. This translates to a 37.27% increase from July’s results.
Data from the China Passenger Car Association (CPCA) have indicated that Tesla China sold 86,697 vehicles wholesale in August 2024. From this number, 23,241 were exported to foreign territories. As noted in a CNEV Post report, this suggests that the electric vehicle maker was able to sell 63,456 vehicles in China’s domestic market during the month.
For context, these results are down just 1.91% from the 64,694 vehicles that were sold domestically in August 2023. They also represent a 37.27% increase from the 46,227 units that were sold locally in July 2024. Overall, Tesla China was able to sell 388,000 vehicles in China’s domestic market during the January to August period, a decrease of just 0.57% year-over-year.
Tesla China’s domestic sales in August are particularly impressive considering that earlier this year, reports emerged suggesting that Giga Shanghai was throttling Model Y production by at least 20% from March to June. While Tesla did not confirm these reports, industry watchers did notice a slowdown in domestic Model 3 and Model Y sales during the second quarter.
Tesla competes in China’s New Energy Vehicle (NEV) and Battery Electric Vehicle (BEV) Market. In August, China’s local sales for NEVs—which include BEVs, plug-in hybrids, and fuel cell cars—reached a record 1,027,000 units. The country’s BEV sector, on the other hand, reached 583,000 units in August, accounting for 56.8% of China’s NEV sector.
Considering Tesla China’s domestic results, it would appear that the electric vehicle maker reached a 6.18% share in the country’s NEV market in August, a slight increase from the company’s 5.27% share in July. Tesla’s share in the BEV sector was a more substantial 10.88% in August, which is an improvement over its 9.59% share in July 2024.
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