Recent data indicates that there was no increase in the wholesale volume of the Tesla Model 3 Highland.
China Passenger Car Association (CPCA) data reveals that, among the 82,432 wholesale shipments of Tesla MIC Model 3/Model Y last month, a significant majority, 65,504 (up 5% YoY), corresponds to local sales, while exports constitute a smaller portion of 16,928 units (down 55% YoY).
The reason for the significant export decline, down for the second consecutive month (following a 20% drop in October), remains uncertain.
Last month’s Tesla MIC Model 3/Model Y wholesale shipments (YoY change):
– Retail sales in China: 65,504 (up 5%)
– Exports: 16,928 (down 55%)
– Total shipments: 82,432 (down 18%)
Tesla MIC Model 3/Model Y Wholesale Shipments Report November 2023
Tesla MIC Model 3/Model Y Wholesale Shipments YTD – Year-over-Year Change
| Retail Sales in China | 527,859 (up 33%) |
| Export | 325,744 (up 27%) |
| Total Shipments | 853,603 (up 30%) |
Despite a year-to-date positive outlook with retail sales in China and exports both increasing by about a third, the concern lies in the substantial decrease in the year-over-year growth rate, impacted by the company’s decision to reduce prices, affecting its margins.
Model Sales
In November, total wholesale shipments for Tesla’s models showed a decrease compared to November 2022:
– MIC Model 3: 23,999 (down 23%)
– MIC Model Y: 58,433 (down 15%)
This outcome is intriguing, especially considering the recent refreshes for both models—the significantly upgraded Model 3 (code name Highland) and the slightly updated Model Y. Notably, Model 3 wholesale shipments in November were lower than October (24,951) and only slightly higher than July-September (over 20,000).
