Tesla’s Impressive Sales Growth in China Continues
Tesla made a significant impact on the Chinese market in May, with a remarkable increase in sales compared to the previous month. The electric vehicle giant sold 55,215 cars in China in May, marking a 76% increase from April.
The data released by the China Passenger Car Association (CPCA) revealed that Tesla China exported 17,358 vehicles in May, showing a 50.67% decrease compared to the same period last year and a 43.54% decrease from April.
The surge in sales can be attributed to Tesla’s strategy of dedicating more production capacity at its Shanghai plant to local deliveries. The company’s sales in China totaled 72,573 vehicles in May, with exports included.
Among Tesla’s sales in China, the Model Y accounted for 45,359 units, making up 62.5% of the total sales. On the other hand, the Model 3 sales amounted to 27,214 units, contributing to 37.5% of the sales.
Despite the impressive sales figures, the retail sales numbers for the Model 3 and Model Y in China for May have not been disclosed yet. However, the overall retail sales of new energy vehicles (NEVs) in China witnessed a significant increase in May, totaling 804,000 units.
In the competitive Chinese market for electric vehicles, Tesla’s share saw a notable increase, reaching 6.87% in May. The company’s share of the battery electric vehicle (BEV) market specifically was 11.15% in the same month.
Overall, Tesla’s sales in China for the January-May period reached 355,616 units, showcasing a 7.12% decrease compared to the previous year. However, the company remains optimistic as wait times for all Model 3 and Model Y variants in China have been reduced to 1-6 weeks, indicating strong demand in the market.