Tesla Elevated EV Retail Gross sales, However Exports Have been Down 55% In November 2023

Further gross sales information from China reveals an attention-grabbing distinction between Tesla’s exports and retail gross sales on the earth’s largest electrical automobile marketplace for the month of November.

In line with the China Passenger Automobile Affiliation’s (CPCA) information, out of 82,432 Tesla MIC Mannequin 3/Mannequin Y wholesale automobile shipments final 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%)
• Complete wholesale shipments: 82,432 (down 18%)

Nonetheless, the outcomes after 11 months of the 12 months are nonetheless optimistic. Retail gross sales in China and exports are up year-over-year by a few third.

The principle problem is that the year-over-year progress price considerably decreased although 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%)
• Complete wholesale shipments: 853,603 (up 30%)

Mannequin Gross sales

When it comes to fashions, in November, the full 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 attention-grabbing final result, contemplating that each fashions had been refreshed—the Mannequin 3 (code title Highland) has been considerably upgraded whereas the Mannequin Y has been barely up to date.

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

One of many explanations is that the Tesla Giga Shanghai manufacturing facility won’t be capable of produce a better variety of the brand new Mannequin 3 automobiles but.