Tesla, through its Chinese arm, recorded a modest sales growth in June 2024. However, it also faced another year-on-year slump amid intensifying competition in the world’s largest auto market.
Tesla EV sales in China in June 2024
Tesla China’s electric vehicle exports reached a total of 11,746 units in June 2024 alone, according to the China Passenger Car Association (CPCA).
Tesla China sold 71,007 wholesale EVs in the same period. Therefore, its domestic sales hit a total of 59,261 units in June 2024. This figure represents a 7% month-over-month growth from its sales of 55,215 units in May 2024.
However, Tesla’s 59,261 domestic sales also indicate a 20% year-over-year decline from the same period last year.
Interestingly, these figures also revealed that Tesla China’s EV exports dropped 40% YoY from its record of 19,468 units in June 2023. It also noted a 32% MoM decline from May 2024’s 17,358 vehicle exports.
Tesla Model Y still leads
Tesla’s popular Model Y electric crossover continues to dominate the Chinese market in June 2024.
According to the data, the Model Y accounted for 43,951 units of the 71,007 total wholesale units in June 2024.
The Giga Shanghai-made Tesla Model 3 sold a total of 27,056 units last month, including exports. However, Tesla’s domestic sales figures for both Model Y and Model 3 in the same period have yet to be disclosed.
Tesla China’s EV sales – Q2 2024
According to industry watchers like CNEV Post, Tesla China’s wholesale vehicles dropped 16.77% YoY and 6.85% quarter-over-quarter to 205,747 units in the second quarter of the year.
As for the global deliveries, Tesla recorded a total of 443,956 units in Q2 2024. This considered, Tesla China accounted for 46% of its sales during the same period.
This year to date, Tesla China sold 426,623 vehicles wholesale. It represents a 10.47% YoY decline.
With CEO Elon Musk aiming for a sales surge in 2024, Tesla China faces intense pressure to significantly ramp up production in the coming quarters.
