Tesla’s Giga Shanghai experienced a downward shift in October, with a decrease in sales after a four-month period of steady growth.
According to data from the China Passenger Car Association (CPCA) released on Monday, Tesla sold 68,280 vehicles built at Giga Shanghai last month. This marks a 5.3% decline from the same time period last year, and a larger 22.7% drop from the prior month, September 2024.
This wholesale figure includes both local deliveries and exports. A breakdown between domestic sales and international exports should be released by the CPCA later this week.
Tesla’s Shanghai Gigafactory produces the Model 3 and Model Y, and plays a crucial role in the company’s global production strategy. Serving both the domestic market and as a major export hub, the plant is a focal point of Tesla’s global supply chain, which until recently also included Canada. In June Giga Shanghai reported 71,007 sales, and in the months since then has seen steady increases, reaching a near 2024 high of 88,321 sales last month.
However, with October’s figures now in, these are the lowest sales Giga Shanghai has seen since April of this year, when a total of 62,167 vehicles were sold.
Through the first 10 months of the year, Giga Shanghai has sold a total of 744,038 Model 3 and Model Y cars.
Seemingly in response to these lower figures, Tesla recently extended its 0% interest financing offer for the Model 3 and Model Y in China. Initially introduced in July, this promotion has been extended several times since then, most recently last month with the offer now available through November.
