Tesla China domestic sales reach year-to-date high in September 2024
10/14/2024 09:38 AM
Tesla China’s domestic sales were their highest year-to-date in September 2024. This was hinted at in data recently released by the China Passenger Car Association (CPCA).
CPCA data has revealed that Tesla China was able to sell 88,321 vehicles wholesale in September 2024. From this number, a total of 16,121 cars were exported to foreign markets. This suggests that over the course of September, Tesla was able to sell a total of 72,200 vehicles in the domestic Chinese market.
$TSLA
— Tsla Chan (@Tslachan) October 12, 2024
GOOD NEWS: Tesla China sold 181,883 units to Chinese domestic demand in the third quarter, its strongest quarterly performance since entering the Chinese market.
Tom Zhu and Tesla China team's work is incredible! pic.twitter.com/CaOWtbyehH
As noted in a report from CNEV Post, Tesla China’s domestic sales in September represent a 65.95% improvement over the 43,507 vehicles that were sold by the company in September 2023. They also represent a 13.78% improvement over the 63,456 vehicles that were sold domestically in August 2024.
This also means that in the third quarter, Tesla sold a total of 181,883 vehicles in the domestic Chinese market. This represents a year-over-year improvement of 30.27% and a quarter-over-quarter improvement of 24.67%. This bodes well for Tesla China’s reach in China’s local EV market, and it highlights just how prolific the Model 3 and Model Y have become in the country.
China reported 72,200 Tesla sales and 3.4% market share in September. BEV penetration reaches new record of 30.5% and Tesla has 11.2% of this segment.
— Roland Pircher (@piloly) October 12, 2024
• Market share is 30 basis points or 10% above the 3-month trailing average of 3.1%
• Second best September ever
• +64%… pic.twitter.com/cvX68RYYdq
Overall, Tesla China’s domestic sales have reached 460,200 vehicles from January to September 2024, an increase of 6.1% year-over-year. This is especially impressive for the electric vehicle maker considering that 2024’s domestic sales lagged 2023’s figures for several months.
Tesla China continues to be a growing presence in the company’s overall operations. At the end of September, Tesla China announced that it had successfully exported 1 million vehicles to foreign markets. And on the same day when Tesla North America unveiled the Cybercab and the Robovan in California, Tesla China announced that Gigafactory Shanghai had produced its 3 millionth vehicle.
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