- Compared to October, Tesla's retail sales in China rebounded in November, partly due to the launch of a new Model Y variant and the boost from selling inventory cars.
- From January to November, Tesla's retail sales in China totaled 531,855 units, down 7.37 percent year-on-year.
Tesla (NASDAQ: TSLA) saw a substantial rebound in its China retail sales last month compared to October, though it still declined year-on-year.
The US electric vehicle (EV) maker sold 73,145 vehicles in China at retail in November, marking a 0.47 percent year-on-year decline and the fifth consecutive month of contraction, according to data released today by the China Passenger Car Association (CPCA).
The monthly retail sales surged 181.26 percent from October's 26,006 units, partly attributed to the launch of a new Model Y variant and Tesla accelerating year-end deliveries by selling existing inventory vehicles.
The company launched a new five-seat Model Y variant in China on November 8, featuring an 821-kilometer CLTC range -- the longest in the SUV's lineup.
Starting November 20, Tesla began encouraging Chinese customers to purchase brand-new, production-ready inventory vehicles to maximize year-end deliveries and capitalize on more favorable purchase tax policies within this year.
China's new energy vehicle (NEV) retail sales reached 1,321,000 units in November, including 827,000 battery electric vehicles (BEVs).
This translates to Tesla holding a 5.54 percent share of China's NEV market and an 8.84 percent share of the BEV segment last month.
Tesla operates a Shanghai factory producing the Model 3 sedan and Model Y crossover, serving both domestic customers and functioning as an export hub.
The company exported 13,555 vehicles from China in November, a 152.61 percent year-on-year increase but a 61.81 percent decrease from October.
Including domestic sales and exports, Tesla China's wholesale volume reached 86,700 units in November, up 9.95 percent year-on-year and up 40.98 percent month-on-month.
Model Y wholesale sales in November reached 55,576 units, up 19.27 percent year-on-year and up 44.12 percent month-on-month.
Model 3 wholesale sales in November totaled 31,124 units, down 3.52 percent year-on-year but up 35.71 percent month-on-month.
January-November performance
From January to November, Tesla's retail sales in China totaled 531,855 units, down 7.37 percent year-on-year.
Exports from the Shanghai factory during this period reached 222,706 units, a 10.46 percent year-on-year decline.
Tesla China's wholesale sales for the period amounted to 754,561 units, down 8.30 percent year-on-year.
Model Y wholesale sales from January to November totaled 472,805 units, down 4.43 percent year-on-year.
Model 3 wholesale sales from January to November reached 281,756 units, down 14.15 percent year-on-year.
