China: Tesla Increased Retail EV Sales And Export In February 2023
Tesla continues to expand its electric vehicle business in China, increasing both local car sales and export of Made-in-China (MIC) Model 3/Model Y.
As we reported earlier, according to the China Passenger Car Association (CPCA), Tesla’s wholesale vehicle shipments (local sales and export) in February amounted to 74,402 units (up 32 percent year-over-year).
* CPCA reports wholesale shipments, not registrations/customer deliveries.
The new data reveals also local sales and exports, as well as the results of individual models.
So far this year, the total volume amounted to 140,453 MIC cars, which is close to 21 percent more than a year ago.
According to the new data, last month, the company’s local sales in China amounted to 33,923 MIC cars, which is 46 percent more than a year ago (in big part thanks to reduced prices).
Tesla MIC retail sales in China are usually the highest in the final month of a quarter (the first half of a quarter is usually focused on export).
So far this year, Tesla sold more than 60,000 MIC electric cars in China, which is 43 percent more than a year ago. That’s a pretty solid result indicating that Tesla does pretty well in China.
According to the report, last month 40,479 Tesla MIC cars were exported – that’s 21.5 percent more than a year ago.
Tesla usually exports the highest number of cars in the first month of a quarter, and then a substantial number of cars also in the second month of a quarter.
Interestingly, exports during the first two months of the year increased by 8 percent year-over-year to almost 80,000 units. That’s also a positive sign and an indication that the Tesla Giga Shanghai plant exports the majority of its production.
Tesla produces in Shanghai two MIC models – Model 3 and Model Y (both in various versions). In February, the Tesla Model 3 wholesale (retail sales in China plus export) amounted to 22,990, while the Tesla Model Y amounted to 51,412.
The majority of both models were exported, while local retail sales amounted respectively 8,397 (up 82 percent year-over-year) and 25,526 (up 37 percent year-over-year).
It’s worth noting that the Tesla Model Y happens to be the second most popular model in the crossover/SUV segment in China. The best-selling one is the BYD Song with 51,592 units (BEV and PHEV versions counted together).