Tesla Increased EV Retail Sales, But Exports Were Down 55% In November 2023

Further gross sales knowledge from China reveals an fascinating distinction between Tesla’s exports and retail gross sales on this planet’s largest electrical automotive marketplace for the month of November.

In accordance with the China Passenger Automotive Affiliation’s (CPCA) knowledge, out of 82,432 Tesla MIC Model 3/Model Y wholesale vehicle shipments last month, the overwhelming majority falls on native gross sales—65,504 (up 5% year-over-year), whereas export represents solely a small a part of 16,928 models (down 55% year-over-year).

* CPCA reviews wholesale shipments, not registrations/buyer deliveries.

We’re not positive why exports decreased a lot, nor why they’re down for the second consecutive month (after a 20% drop in October).

Tesla MIC Mannequin 3/Mannequin Y wholesale shipments final month (YOY change):

• Retail gross sales in China: 65,504 (up 5%)
• Export: 16,928 (down 55%)
• Whole wholesale shipments: 82,432 (down 18%)

Nonetheless, the outcomes after 11 months of the yr are nonetheless optimistic. Retail gross sales in China and exports are up year-over-year by a couple of third.

The principle difficulty is that the year-over-year development fee considerably decreased even though the corporate decreased costs (affecting its margins).

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

• Retail gross sales in China: 527,859 (up 33%)
• Export: 325,744 (up 27%)
• Whole wholesale shipments: 853,603 (up 30%)

Mannequin Gross sales

When it comes to fashions, in November, the overall wholesale shipments decreased in comparison with November 2022:

• MIC Mannequin 3: 23,999 (down 23%)
• MIC Mannequin Y: 58,433 (down 15%)

That is an fascinating final result, contemplating that each fashions had been refreshed—the Model 3 (code name Highland) has been significantly upgraded whereas the Model Y has been slightly updated.

Much more fascinating is that the Mannequin 3 wholesale shipments in November had been decrease than in October (24,951) and never a lot larger than in July-September (over 20,000).

One of many explanations is that the Tesla Giga Shanghai manufacturing unit may not be capable of produce a better variety of the brand new Mannequin 3 automobiles but.