The China Passenger Car Association (CPCA) has released its monthly sales report for the country. Based on the data shared by the CPCA, it appears that Tesla China had a very eventful February, with the EV maker posting wholesale figures of 56,515 units, comprised of 33,315 vehicles that were exported to foreign territories and 23,200 that were delivered to local customers.
These numbers represent substantial growth for Tesla’s China operations. Considering that the company sold 18,318 vehicles in the same month last year, February 2022’s wholesale numbers indicate that Tesla saw a 208.5% year-over-year growth in China. It should also be highlighted that Tesla China was able to post its stellar February 2022 results even with the month only having 28 days.
Tesla’s local results in China place the company among the country’s premier automakers. During the month, five automakers posted over 10,000 wholesale figures, including BYD, SAIC-GM-Wuling, Geely, and Chery. Among these automakers, BYD exceeded Tesla China with its wholesale figures of 87,473. Wholesale numbers of SAIC-GM-Wuling were at 26,046, Geely posted 14,285, and Chery sold 10,271 vehicles over February 2022.
What is especially impressive with Tesla’s results was the fact that the company only sells premium-priced vehicles in China. Tesla currently produces the Model 3 sedan and Model Y crossover in Gigafactory Shanghai, both of which are more expensive than some of the country’s best-selling electric cars like the SAIC-GM-Wuling Mini EV. Despite this, Tesla’s vehicles in China are selling at volumes that seem comparable to more mainstream cars.
Tesla China is currently playing the role of the company’s primary vehicle export hub, which means that the company typically caters to the local market only in the latter half of a quarter. It will then be unsurprising if Tesla China’s March 2022 numbers end up being heavily skewed towards local deliveries, with very few exports included.
The demand for Teslas in China is quite massive, with the company’s online configurator in the country being updated last week with extended estimated delivery timeframes for the Model 3 and Model Y. Considering that some vehicles like the base Model 3 are currently listed with estimated delivery dates that are 16-20 weeks away, it appears that local customers could receive vehicles ordered today in June at the earliest.
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Keyword: Tesla sells 56,515 vehicles in China in February, a 208.5% year-over-year increase