The Shanghai factory continues to produce more than half of Tesla’s EVs worldwide.
January 7, 2024 in 12:05pm (Eastern Standard Time)
In December, Tesla significantly increased its overall wholesale shipments (domestic retail sales and exports) of Made in China (MIC) vehicles.
Tesla’s Shanghai factory is currently producing new electric vehicles at a near-record pace and appears to remain the company’s largest electric vehicle factory in terms of output.
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Tesla Giga Shanghai EV Factory
Tesla Giga Shanghai Factory is the world’s largest all-electric vehicle manufacturing plant, producing nearly 950,000 Model 3s and Model Ys in 2023. Shanghai’s Tesla EVs are mainly sold in China, with exports accounting for more than a third of sales.
According to initial data from the China Passenger Car Association (CPCA), overall wholesale shipments of Tesla MIC Model 3/Model Y vehicles reached 94,139 units last month, an increase of 69% from a year ago, and 2023 This was the highest monthly performance.
The only time it was better was in November 2022 with 100,291 units, after the significantly upgraded Model 3 (codenamed Highland) and slightly updated Tesla Model Y hit the market in China. It shows that the factory is very busy.
*CPCA reports wholesale shipments, not registration/customer deliveries.
This is good news after months of no growth or year-over-year declines. We need local retail sales/export data in the coming days to better understand Tesla’s situation in China.
Tesla MIC Model 3/Model Y wholesale shipments last month (YoY change):
- Total wholesale shipments: 94,139 (69% increase)
Tesla’s wholesale shipments in the fourth quarter of 2023 were 248,686 units, an increase of 9% year-on-year and the highest ever for the quarter.
Total wholesale sales volume in 2023 reached almost 950,000 units, an increase of 33% year-on-year, making it the best year ever.
Cumulative annual shipments of Tesla MIC Model 3/Model Y (YoY):
- Total wholesale shipments: 947,742 (33% increase)
It is noteworthy that the Shanghai factory was responsible for more than half of Tesla’s total global electric vehicle deliveries in both Q4 (484,507 units) and 2023 (1,808,581 units).
At this time, early CPCA data does not include retail sales and export numbers or separate results for the two models.