Tesla hit its monthly record after over 80,000 China-made electric vehicles (EVs) deliveries in September. This news comes after the factory upgrade is completed recently. It is an 8% increase from its August sales and is the record highest since the factory’s initial production in 2019.
Tesla said in a brief statement, “The record high sales of China-made Tesla cars showed electric vehicles have been leading the mobility trend.” Tesla said that it delivered 343,830 EVs globally in the third quarter. But according to Refinitiv, the number is still less than the 359,162 that the analysts, on average, had expected, according to Refinitiv. Tesla increased its China deliveries to around 22,000 units compared with levels of around 17,000 in June after suspending most production at the Shanghai plant in July for an upgrade.
With its 83,135 vehicles sold in September, Tesla China’s wholesale figures saw an increase of 48.44% year over year and an 8.02% increase month over month. For context, Tesla sold 78,906 cars from China in June. The company sold 76,965 vehicles in August 2022.
Considering that Gigafactory Shanghai’s production lines were upgraded in the third quarter, the remaining months of the fourth quarter would likely see Tesla China posting strong wholesale figures consistently. Previous reports have pointed to Giga Shanghai potentially producing about 266,500 cars in Q4 2022, which would be pivotal to Tesla’s goal of achieving 50% sales growth this year.
— Moneyball (@MoneybaII_R) October 9, 2022
Gigafactory Shanghai produces only two vehicles, the Tesla Model 3 sedan and the Model Y crossover, but its offerings have become a staple of the domestic electric vehicle market in China. The Model Y, for one, has maintained its place as China’s best-selling high-end SUV priced at over RMB 300,000 (around $42,150) for several months. Current starting prices for the Model 3 and Model 3 Performance in China are RMB 279,900 and RMB 367,900, respectively. Price points for the Model Y, Model Y Long Range, and Model Y Performance are RMB 316,900, RMB 394,900, and RMB 417,900, respectively.