The latest data released by the China Passenger Car Association (CPCA) has unveiled a compelling snapshot of Tesla China's performance in July 2023. During this period, Tesla China successfully sold a total of 64,285 vehicles manufactured at the Gigafactory Shanghai. This comprehensive figure encompasses both domestic sales within China and exports to international markets.
Compared to the same month in the previous year, Tesla China's wholesale results for July 2023 exhibit a remarkable surge of 127.82%, marking a substantial increase from the 28,217 vehicles sold in July 2022. However, these figures also indicate a notable 31.38% decline from June 2023's impressive sales tally of 93,680 vehicles. Furthermore, this month's results represent the lowest wholesale performance for Tesla China thus far in the current year.
Giga Shaghai reported 64,285 wholesales for July. pic.twitter.com/isozbFUiZl
— Roland Pircher (@piloly) August 3, 2023
To provide a comprehensive context, Tesla China's wholesale figures for the year have followed a dynamic trajectory: 66,051 vehicles in January, 74,402 in February, 88,869 in March, 75,842 in April, 77,695 in May, and a remarkable 93,680 in June. Considering these cumulative results, it becomes evident that Tesla China's Giga Shanghai-made vehicles have reached a cumulative sales figure of 540,824 for the January to July 2023 period, signifying an impressive year-over-year improvement of 67.45%.
In comparison, China-based automaker BYD, a prominent player in the New Energy Vehicle (NEV) market, recorded a year-over-year surge of 61% to reach a sales figure of 261,105 vehicles in July 2023. Of these, 18,169 were exported to international destinations. Notably, BYD's NEV lineup includes hybrid vehicles, which retain combustion engines. Consequently, in July, Tesla trailed behind BYD's performance.
Tesla's Gigafactory Shanghai, a monumental production facility, primarily manufactures the Model 3 sedan and the Model Y crossover. Despite this limited product range, the factory boasts an estimated annual production capacity of over 750,000 vehicles, as outlined in Tesla's Q2 2023 Update Letter. In contrast, the Fremont Factory, Tesla's long-standing manufacturing site producing the entire S3XY lineup, is estimated to have an annual capacity of 650,000 vehicles.
In the broader context of China's automotive landscape, New Energy Vehicle wholesale figures tallied approximately 750,000 units in July 2023. This figure reflects a 34% year-over-year increase but represents a marginal 1% dip compared to June 2023's performance, as documented by the CPCA. Remarkably, China, currently the world's largest market for electric cars, is projected to achieve around 8.5 million New Energy Vehicle sales throughout the present year.
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