Tesla sells 55,215 cars in China in May, up 76% from Apr

June 11, 2024

23 2 minutes read

Tesla China exported 17,358 vehicles in May, down 50.67 percent year-on-year and down 43.54 percent from April.

Tesla (NASDAQ: TSLA) saw its sales in China rise significantly last month, as it dedicated more capacity at its Shanghai plant to local deliveries.

Tesla China sold 72,573 vehicles in May, including 17,358 for export, according to data released today by the China Passenger Car Association (CPCA).

That means the US electric vehicle (EV) maker sold 55,215 vehicles in China in May, up 29.89 percent from 42,508 a year earlier and up 75.73 percent from 31,421 in April, CnEVPost calculations show.

Tesla China’s exports in May were down 50.67 percent from 35,187 a year earlier and down 43.54 percent from 30,746 in April.

Tesla has a factory in Shanghai that makes the Model 3 sedan and Model Y crossover, both for deliveries to local customers and as an export hub for it.

Tesla’s pattern is to produce cars for export in the first half of the quarter and for the local market in the second half, it previously said.

Of Tesla China’s May sales including exports, the Model Y was 45,359 units, contributing 62.5 percent of sales. That’s down 10.14 percent from 50,480 a year ago while up 41.92 percent from 31,962 in April.

Model 3 sales, including exports, amounted to 27,214 units, contributing to 37.5 percent of Tesla China’s May sales. This was essentially unchanged from 27,215 in the same period last year, and down 9.9 percent from 30,205 in April.

Retail sales figures for the Model 3 and Model Y in China in May are not yet available.

Industry-wide, retail sales of new energy vehicles (NEVs) in China were 804,000 units in May, up 38.64 percent year-on-year and up 18.75 percent from April.

Retail sales of battery electric vehicles (BEVs) in China totaled 495,000 units in May, up 27.58 percent year-on-year and up 22.16 percent from April.

Retail sales of plug-in hybrid electric vehicles (PHEVs) in China totaled 309,000 units in May, up 60.94 percent year-on-year and up 13.67 percent from April.

That means Tesla’s share of China’s NEV market was 6.87 percent in May, up from 4.66 percent in April and down from 7.33 percent a year earlier, CnEVPost calculations show.

In China’s BEV market, Tesla’s share was 11.15 percent in May, up from 7.76 percent in April and up from 10.96 percent a year earlier.

Among the major EV players, companies including Tesla, Nio (NYSE: NIO), and Xpeng (NYSE: XPEV) produce only BEVs, while companies including BYD (HKG: 1211, OTCMKTS: BYDDY), and Li Auto (NASDAQ: LI) produce both BEVs and PHEVs.

In the January-May period, Tesla China’s sales, including exports, were 355,616 units, down 7.12 percent year-on-year.

It sold 219,056 vehicles in China in the January-May period, down 0.38 percent year-on-year.