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China: Tesla EV Sales And Exports Surged In November 2022

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In November, Tesla significantly increased its local retail sales in China and its export of electric cars produced at the Giga Shanghai plant.

According to the China Passenger Car Association (CPCA)’s data, last month the total Made-in-China (MIC) Tesla volume (retail sales in China and export) amounted to 100,291 units.

That’s a new monthly record and an increase of 90% year-over-year.

* CPCA reports wholesale shipments, not registrations/customer deliveries.

It’s expected that December will be even stronger, but it’s very difficult to forecast anything for 2023.

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So far this year, the total wholesale shipments exceeded 655,000 (up 63% year-over-year), including over 255,000 during the past three months.

If Tesla is able to maintain the rate of 100,000 units per month, the Giga Shanghai annual production rate would amount to 1.2 million units.

The report indicates that last month, local sales in China amounted to 62,493 (up 97% year-over-year), which is one of the best results ever.

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).

We assume that the recent price reduction and some additional incentives, combined with the upcoming end of the 11,088 CNY (almost $1,600) subsidy, are major driving forces right now.

So far this year, Tesla sold in China over 397,000 MIC electric cars (up 59% year-over-year).

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According to the report, last month 37,798 Tesla MIC cars were exported (up 79% year-over-year), which is one of the best monthly results ever.

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.

The CPCA says that over 257,000 Tesla MIC cars were exported so far this year (up 69% year-over-year). Mostly to Europe, we guess.

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Tesla offers two MIC models – Model 3 and Model Y (both in various versions). The Tesla Model 3 wholesale (retail sales in China plus export) amounted to 31,193, while the Tesla Model Y noted 69,098.

Tesla Model 3 local sales in China amounted to 10,069 (compared to over 21,000 units exported). In the case of the Tesla Model Y, local sales exceeded 52,000, compared to almost 17,000 units exported.

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This article was originally published by Insideevs.com. Read the original article here.
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