The Tesla Model Y was the second best-selling vehicle in China in November.
Tesla has had a fantastic Q4 in China thus far. First, Tesla announced that it had produced over 100,000 units in China, making it a leading EV exporter. Then, the Chinese automotive registration agency stated that Tesla sold over 60,000 vehicles in November alone. Now the Tesla Model Y has been declared the second best-selling vehicle in the country for November.
According to Dongchedi (a Chinese news site) and China’s “Multiplication Association,” reported by @Moneyball_R on Twitter, the Tesla Model Y was the second best-selling vehicle in China in November, selling 52,424 units. The Tesla fell just behind the BYD Song+ DM-i PHEV (56,637 units) and just ahead of the Hongguang Mini EV (31,982 units).
China ICEV+NEV PV Nov retail sales
✴️Top 15 models
🥇BYD Song DM-i
🥈Tesla Model Y
🥉SGMW Hongguang MINI
(DONGCHEDI)
*6/top 10 models NEV; 4/top 10 models EV https://t.co/QokMdyqhSB pic.twitter.com/vKaIVUNIgn— Moneyball (@MoneybaII_R) December 8, 2022
Impressively, the Tesla Model Y sold far more units than the traditional leader, the Hongguang Mini EV, and even sold far more units than cheaper gas and hybrid options from Toyota (the Camry, RAV4, and Corrolla), Honda (the Civic, CRV, and Accord), and BYD. On top of that, this demand surge is out of the ordinary for Tesla in China, which is indicated by Dongchedi’s chart, showing that the Tesla Model Y climbed by 24 places compared to last month.
The other surprising statistic is the lack of demand for Tesla’s other mass-market product, the Model 3. The Model 3 placed 45th on the most recent leaderboard, selling 10,069 vehicles in November. This places the Model 3 between the Toyota RAV4 and the Toyota Wildlander (a slightly smaller RAV4 sold in Asian markets). And while the Model 3 also bounded up the leaderboard (up 130 places), it remains unclear why consumers chose the Model Y more consistently.
If it isn’t already apparent, China has fully taken advantage of electric vehicle technology and is working towards 100% EV adoption faster than most countries on Earth. Along with this massively growing demand for the technology, Tesla has been garnering Chinese demand and even issuing discounts to keep demand strong, already issuing two deals in this quarter alone.
Tesla MIC Nov sales
✴️wholesale: 100,291
✴️retail: 62,493
✴️exports: 37,798
(CPCA) pic.twitter.com/uHeD9dnoxZ— Moneyball (@MoneybaII_R) December 8, 2022
As Tesla closes the final quarter of the year, Chinese sales will likely be a significant propellant for the brand as it hopes to recover its stock price, which has fallen to record lows this year. But it isn’t evident if Tesla will hit its elusive goal of 500,000 vehicles produced in the quarter and 1.4 million units produced annually.
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