China: Tesla EV Retail Sales And Exports Increased In 2023

Sales in China were at a near-record level last month, indicating strong demand.

2023 was a relatively good year for the Tesla Giga Shanghai factory, as the world's largest electric car factory increased its output by a third year-over-year.

According to the additional data from China, both retail sales and exports increased quite noticeably last year.

According to the China Passenger Car Association's (CPCA) data, out of 94,139 Tesla MIC Model 3/Model Y wholesale vehicle shipments last month, the vast majority fall on local sales—75,805 (up 81% year-over-year), while exports amounted to 18,334 units (up 32% year-over-year).

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

It's worth noting that the retail sales were at a near-record level, just slightly behind March 2023 (over 76,000), as well as behind June and September 2022, when more than 77,000 units were sold locally in China.

Tesla MIC Model 3/Model Y wholesale shipments last month (YOY change):

• Retail sales in China: 75,805 (up 81%)
• Export: 18,334 (up 32%)
• Total wholesale shipments: 94,139 (up 69%)

Tesla MIC Model 3/Model Y wholesale shipments - December 2023

In 2023, the total wholesale sales almost reached 950,000 units, which is 33% more than a year ago and the best year ever.

The most positive thing is that both, retail sales in China and export increased in 2023.

Tesla MIC Model 3/Model Y wholesale shipments year-to-date (YOY change):

• Retail sales in China: 603,664 (up 37%)
• Export: 344,078 (up 27%)
• Total wholesale shipments: 947,742 (up 33%)

Retail Sales in China

Export

Model Sales

In terms of models, in December, the total wholesale shipments were as follows:

• MIC Model 3: 31,981 (up 60%) and 302,362 YTD
• MIC Model Y: 62,158 (up 74%) and 645,380 YTD

For the Model 3, it's the highest monthly result in a long time, which means that the switch to the Highland version is in full swing right now.