- Tesla China's wholesale volume in May grew 39.44% year-on-year, achieving an 8.18% sequential rebound from April.
- China's passenger NEV wholesale volume in May was about 1.36 million units, reflecting a 12% year-on-year growth.
Tesla's (NASDAQ: TSLA) China operations recorded strong growth in wholesale volume in May, similar to the performance of several local peers.
Tesla China's wholesale volume reached 85,982 vehicles in May, achieving a 39.44% increase from a year earlier, according to data released Tuesday by the China Passenger Car Association (CPCA).
The figure also represents an 8.18% sequential increase from April, indicating that it has regained growth momentum after a month-on-month decline in April.
During the January-May period this year, Tesla China's total wholesale volume reached 378,858 vehicles, representing a 29.36% increase from the same period last year, highlighting the critical role of its Shanghai factory in meeting domestic and overseas demand.
Tesla's sequential rebound aligns with the broader expansion trend in China's overall new energy vehicle (NEV) market.
According to preliminary estimates released by the CPCA, China's passenger NEV wholesale volume in May was about 1.36 million units, reflecting a 12% year-on-year growth and an 11% sequential increase.
Tesla's sales recovery in May follows its mixed performance data in April.
In April, the company's China operations wholesale volume was 79,478 vehicles, dragged down by relative weakness in China's domestic retail market.
Although domestic retail sales in China fell to 25,956 units in April, exports from the Shanghai factory surged to 53,522 units, offsetting some of the domestic pressure.
Tesla's domestic retail sales in China for May, as well as export figures from the Shanghai factory, are not yet known and are expected to be available in a CPCA report in the coming days.
To boost demand in the local market, Tesla (NASDAQ: TSLA) made significant adjustments to its car financing policies in May.
The company launched a new service named "Easy Loan," aiming to attract budget-conscious consumers by lowering the threshold for car purchases.
Taking the rear-wheel-drive Model 3 with a starting price of 235,500 yuan ($34,810) as an example, the minimum down payment for its five-year plan is lowered to only 55,900 yuan.
Beyond flexible pricing and loan strategies, Tesla is preparing for a major technological roll-out in the Chinese market.
The company recently changed the name of its FSD (Full Self-Driving) software to "Tesla Assisted Driving" on its official Chinese website.
The price of the software suite remains at 64,000 yuan, and the company said that the full advanced driver assistance features will be rolled out later.
This naming adjustment follows the company's announcement on the social media platform X that FSD Supervised is now available in markets including China.
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