FYI: Tesla China has achieved record domestic sales in September 2024, a testament to its growing influence in the Chinese electric vehicle market.
Tesla China Reaches New Heights in September 2024
In a remarkable achievement, Tesla China recorded its highest domestic sales in September 2024, according to recent insights from the China Passenger Car Association (CPCA). With a wholesale total of 88,321 vehicles, this figure includes 16,121 cars that were exported, signifying a robust domestic sale of 72,200 units. This strengthens Tesla’s foothold in the competitive Chinese market.
Third Quarter Sales Surge
Tesla China’s performance in the third quarter of 2024 underscores an upward trajectory, with 181,883 units sold domestically. This marks the strongest quarterly performance for the automaker since entering the Chinese market, demonstrating a substantial year-over-year rise of 30.27% and a quarter-over-quarter boost of 24.67%. The popularity of models such as the Model 3 and Model Y continues to drive these impressive numbers.
September Milestones and Market Share
In September alone, Tesla’s domestic sales surged by 65.95% compared to the previous year’s figures, and by 13.78% over August 2024’s numbers. The company secured a 3.4% share of the total vehicle market, with an 11.2% share in the battery electric vehicle segment. This market presence surpasses the three-month trailing average by 30 basis points, reinforcing Tesla’s strong performance in the electric vehicle penetration of 30.5%.
Year-to-Date Achievements and Production Milestones
From January to September 2024, Tesla China achieved domestic sales of 460,200 units, showcasing a year-over-year increase of 6.1%. This is particularly significant as 2024 sales had previously lagged behind 2023 figures for several months. Additionally, Tesla China has marked key production milestones, including the export of 1 million vehicles and the production of the 3 millionth vehicle at Gigafactory Shanghai, underscoring their expanding global footprint.
Conclusion
Tesla China’s record-breaking sales in September 2024 reflect its growing influence and success in the electric vehicle sector, both domestically and globally. With robust sales performance, strategic exports, and notable production achievements, Tesla is set to continue its dominance in the EV market.
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Authored by William Kouch, Editor of Automotive.fyi
