Tesla China sold a total of 68,280 vehicles wholesale in October 2024. From this number, a total of 27,795 vehicles were exported to foreign markets. This was according to data recently released by the China Passenger Car Association (CPCA).
Considering the CPCA’s recent data, Tesla China sold a total of 40,485 vehicles to the domestic market in October. That’s up 41% from 28,626 units sold in October 2023, but down 44% percent from the 72,200 units that were sold domestically in September 2024.
As noted in a report from CNEV Post, Tesla China’s domestic sales in October were the lowest for the electric vehicle maker since April 2024. Tesla China’s October domestic sales are also lower than Deutsche Bank’s expectations. Deutsche Bank analysts had released a note in late October estimating that Tesla China’s domestic sales would be around 47,000 units.
China reported 40,485 Tesla sales and 1.8% market share in October. BEV penetration is 29.8% and Tesla has 6.0% of this segment. 🇨🇳
• Model Y second best-selling car
• 89% Model Y and 11% Model 3
• 3rd best first month of the quarter ever and -12% vs. the previous one
• Best… pic.twitter.com/oANghpnhy5— Roland Pircher (@piloly) November 8, 2024
This is not that surprising, however, as Tesla China tends to export more vehicles in the first weeks of a quarter. Overall, Tesla China sold a total of 500,685 vehicles in the January to October 2024 period. That’s up 8% from the previous year.
The Model Y is still Tesla’s strongest seller. Among the 68,280 vehicles that were sold wholesale in October, 42,265 were Model Y. This means that the all-electric crossover accounted for 62% of the electric vehicle maker’s wholesale figures last month. The Tesla Model 3, for its part, saw 26,015 units sold wholesale, contributing 38% to the company’s overall October 2024 figures.
$TSLA 🇨🇳
Tesla China needs to deliver 141,398 units to the domestic market in the remaining two months to beat the record for best domestic sales in the previous three quarters!💪 pic.twitter.com/8PE8zTwFqL— Tsla Chan (@Tslachan) November 8, 2024
China’s BEV sector saw 673,000 units sold domestically in October. This means that Tesla China accounted for 6% of the country’s battery electric vehicle market last month. For comparison, Tesla China accounted for 11% of China’s BEV sector in September 2024.
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