Summary
- Tesla China sold 78,856 vehicles wholesale in November 2024, a 15.49% increase from October 2024
- 73,000 of the vehicles sold last month were to domestic customers
- Year-to-date local sales are up 7.1% year-over-year
- Model 3 sedan and Model Y crossover are the majority of Tesla China’s sales
- Elon Musk believes Tesla’s global deliveries in 2024 could exceed the record set in 2023
Article
In November 2024, Tesla China sold a total of 78,856 vehicles wholesale, marking a 15.49% increase from the previous month and a 4.34% decrease from the same period in 2023. The majority of these vehicles were sold in the domestic market, with an estimated 73,000 units purchased by local customers. Despite the slight decrease in year-over-year sales, Tesla China’s performance in 2024 has exceeded its 2023 numbers by 7.1% in terms of local sales.
The Model 3 sedan and the Model Y crossover are the top-selling models for Tesla China, with the latter still being sold in its original iteration. Speculations suggest that an updated variant of the Model Y, referred to as “Juniper,” may be released early next year. The company’s global CEO, Elon Musk, has expressed optimism that Tesla’s total deliveries in 2024 could surpass its record-setting numbers from 2023. To achieve this goal, Tesla would need to deliver a record 515,000 vehicles globally in the fourth quarter, with China playing a significant role in determining the company’s success in meeting its delivery targets.
In the January to November period, Tesla China had sold a total of 822,894 vehicles wholesale, a 3.6% decrease compared to the previous year. However, this decline may be attributed to lower export figures in the past month. The CPCA has yet to release its export figures for November 2024, which could provide further insight into the company’s overall performance for the month. Despite the challenges posed by the global supply chain issues, Tesla China continues to maintain a strong presence in the Chinese market.
The focus on domestic sales in November highlights Tesla China’s commitment to expanding its presence in the country. By prioritizing the local market, the company aims to strengthen its position and increase its market share in the world’s largest automotive market. With plans to release an updated version of the Model Y and ongoing efforts to meet delivery targets, Tesla China remains a key player in the electric vehicle industry. The company’s strategic approach and focus on innovation are driving its growth and success in the competitive Chinese market.
Overall, Tesla China’s sales performance in November and the year-to-date figures demonstrate both its resilience and potential for growth in the electric vehicle market. With a strong focus on the domestic market, plans for new product releases, and ambitious delivery targets, Tesla China is set to further solidify its position as a leading electric vehicle manufacturer in China and globally. The company’s ability to adapt to changing market dynamics and maintain strong sales momentum bodes well for its future prospects in the competitive automotive industry.
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