Tesla China once again broke a new sales record with 56K units of vehicles sold in February alone under a YoY growth of 208%.
Giga Shanghai has attained yet another remarkable delivery result at 56,515 units in February despite only 28 days in the month and the Chinese New Year.
Tesla China has grown by a YoY rate of 208% from having merely sold 18,318 units back in February 2021, which is an increase of more than threefold.
Out of the 56K China-made Tesla vehicles, 33,315 units are being shipped overseas primarily to the European market, while the 23,200 units are made for local orders.
EV sales had exploded in China during February this year, where manufacturers such as Tesla, BYD, Geely, Chery, and SAIC-GM-Wuling had all exceeded 10K sales during the month, and BYD became the sales champion for the month at 87,473 units. SAIC-GM-Wuling, Geely, and Chery each sold 26K units, 14K units, and 10K units respectively.
It is worth noting that Tesla remains the most expensive EV brand compared to Chinese brands regardless of Model 3 or Model Y, and the local sales of 23K units indicates that the Chinese market is relatively accepting towards Tesla’s cost-performance ratio.
Those who are familiar with the EV market would know that the sales of Tesla are greatly affected by the shipping schedules. The export quantity at 30K in February means that the figure will drop drastically during March, and it is reasonable to assume that the sales figure for March will focus on local Chinese orders at no more than 50K units.
The critical reason for Tesla’s thriving sales also goes to the lead-time aside from its cost-performance ratio. Tesla China is currently sitting at a lead-time of 16-20 weeks for Model 3, which is roughly 1-2 months faster than vehicles of the same price level. It is worth mentioning that this is the production speed after Tesla announced that there will be a delay in delivery. For owners who are unwilling to wait for the two additional months, this may just be the decisive factor for the differentiation of recent transactions.
(Cover photo source: Tesla China)
