Tesla Jan deliveries in China decline 45% while Shanghai plant exports surge 71%

• Tesla's January retail sales in China fell to their lowest level since November 2022, while exports from its Shanghai factory hit the second highest on record.
• China's January NEV retail sales totaled 596,000 units, down 20% year-on-year.

Tesla (NASDAQ: TSLA) saw a significant drop in China deliveries last month as exports from its Shanghai factory surged.

The US electric vehicle (EV) maker sold 18,485 vehicles in China at retail in January — its lowest figure since November 2022, according to data released Thursday by the China Passenger Car Association (CPCA).

The monthly retail sales fell 45.15% from 33,703 units in the same period last year and dropped 80.30% from December's record high of 93,843 units.

Tesla operates a Shanghai factory producing the Model 3 sedan and Model Y crossover, serving both domestic customers and functioning as an export hub.

January is traditionally a slow season for China's auto market, while Tesla increased vehicle exports from China last month.

The company's Shanghai factory exported 50,644 vehicles in January, the second-highest on record after October 2022's 54,504 units, according to data compiled by CnEVPost.

Monthly exports surged 71.47% year-on-year from 29,535 units and jumped 1,421.75% from December's 3,328 units.

Including domestic sales and exports, Tesla China's wholesale volume came in at 69,129 units in January, marking a 9.32% year-on-year increase but a 28.86% decline from December.

Model Y wholesale sales in January were 38,916 units, up 20.73% year-on-year but down 41.20% from December.

Model 3 wholesale sales in January totaled 30,213 units, down 2.55% year-on-year and down 2.48% month-on-month.

Retail sales figures for both models in China in January remain unavailable.

China's new energy vehicle (NEV) retail sales in January totaled 596,000 units, down 20% year-on-year. Battery electric vehicles (BEVs) accounted for 348,000 units, a 17% year-on-year decrease.

This translates to Tesla holding a 3.10% share of China's NEV market and a 5.31% share of the BEV segment last month.