Tesla China sells 64,285 wholesale in July, a 31.38% month-over-month decline

Key Points

• 🚘 Tesla China sold 64,285 Gigafactory Shanghai-made vehicles in July 2023, including domestic and export sales.
• 📉 This represents a 31.38% month-over-month decline from June 2023 and the lowest monthly wholesale results for Tesla China this year so far.
• 📈 However, it also indicates a significant 127.82% year-over-year increase from July 2022.
• 🥇 BYD remains the leader in NEV sales in China, outpacing Tesla in terms of raw NEV volumes.
• 🇨🇳 China’s wholesale results for New Energy Vehicles in July 2023 increased by 34% year-over-year but decreased by 1% compared to June 2023, with an estimated 750,000 units sold.

According to data released by the China Passenger Car Association (CPCA), Tesla China achieved strong sales in July 2023, selling a total of 64,285 vehicles produced at the Gigafactory Shanghai. This number includes both domestic sales and exports.

The July 2023 wholesale figures showed remarkable growth, with a year-over-year increase of 127.82% compared to the same month last year when 28,217 vehicles were sold. However, it is worth noting that the July figure also represents a significant decline of 31.38% compared to June 2023, when 93,680 vehicles were sold. This makes it the lowest monthly wholesale result for Tesla China so far this year.

To put it into perspective, Tesla China’s wholesale figures for the previous months were 66,051 in January 2023, 74,402 in February 2023, 88,869 in March 2023, 75,842 in April 2023, 77,695 in May 2023, and an impressive 93,680 in June 2023. Adding up these figures, Tesla China appears to have sold a total of 540,824 Gigafactory Shanghai-made vehicles from January to July 2023. This represents a notable 67.45% improvement compared to the same period last year, as tracked by CNEV Post.

In comparison, China-based automaker BYD, which leads the country in sales of New Energy Vehicles (NEVs), posted a 61% year-over-year increase to 261,105 vehicles in July 2023, 18,169 of which were exported to foreign territories. It should be noted, however, that BYD’s NEVs include hybrid vehicles, which are still equipped with a combustion engine. Considering these results, Tesla is a distant second to BYD in July. 

Tesla Gigafactory Shanghai is the electric vehicle maker’s largest factory by volume. While the facility only produces the Model 3 sedan and the Model Y crossover, it currently has an estimated annual output of over 750,000 vehicles, as per Tesla’s Q2 2023 Update Letter. In comparison, the Fremont Factory, Tesla’s oldest plant that produces the entire S3XY lineup, is estimated to have an annual capacity of 650,000 vehicles. 

Overall, China’s wholesale results for New Energy Vehicles were estimated at 750,000 units in July 2023. That’s up 34% year-over-year, but 1% down compared to June 2023, as per data from the CPCA. The country, which is currently the world’s largest market for electric cars, is estimated to see around 8.5 million New Energy Vehicle sales this year.