Tesla’s presence in the Chinese electric vehicle (EV) is as strong as ever as the latest data from the China Passenger Car Association (CPCA) indicates a surge in wholesale vehicle shipments for August. Last month, the company shipped a total of 84,159 Model 3 and Model Y cars.
This figure marks an increase of 9.3% compared to the same period last year, and also a 31% jump compared to July.
It is important to note that the CPCA’s data reflects wholesale shipments rather than customer registrations or deliveries. It also does not yet break out how many vehicles were exported – that figure should be released later this week.
One factor likely contributing to this surge in Tesla’s MIC car shipments is the recent move by the company to lower the prices of the Model Y Long Range and Performance versions. Additionally, an insurance subsidy for the Model 3 has likely played a role in stimulating demand.
The future also looks promising for Tesla in the Chinese market. Tesla has officially introduced the Model 3 refresh, known as ” Project Highland.” Interestingly only the RWD and AWD versions were unveiled, leaving questions about the Performance version. Tesla anticipates customer deliveries of the new Model 3 in China to start in the fourth quarter of this year.
The Model Y has also gathering more interest as of late. The recent price reductions has led to an increase in orders and extended delivery times extending out to 8 weeks depending on the version.
In the first seven months of 2023, Tesla’s wholesale shipments of the MIC Model 3 and Model Y combined amounted to a staggering 624,983 units, representing a remarkable 56 percent year-over-year growth. Impressively, the 12-month rolling volume exceeded 935,000 units, solidifying Tesla’s Giga Shanghai plant as the world’s largest electric car manufacturing facility, with the potential to produce over 1 million units annually.
