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Down 17.81% from the same period last year! Tesla China Wholesale sales announcement in November

2024-07-18 Update From: AutoBeta NAV: AutoBeta > News >


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On December 4, the Federation of passengers released wholesale sales of new energy passenger cars in November 2023. Data show that Tesla's wholesale sales in China in November were 82432, up 14.31 per cent from the previous month and down 17.81 per cent from a year earlier. This was Tesla's biggest decline since December 2022, when Tesla's sales fell 21%.

Judging from the wholesale sales of new energy passenger car manufacturers, Tesla ranked second in China, second only to BYD, but still has a big gap with BYD. For comparison, BYD sold 301378 vehicles in November, up 0.09% from a month earlier and up 31.07% from a year earlier.

By the end of November, Tesla's super Shanghai factory had delivered about 854000 vehicles in the first 11 months of this year, an increase of more than 30 per cent year-on-year. At present, Tesla has a total of Model Y and Model 3 models on sale in China, of which Model Y is Tesla's best-selling model. From January to October this year, cumulative sales of Model Y and Model 3 were 346500 and 115900, respectively, according to retail data from the Federation of passengers.

It is worth mentioning that after entering 2023, Tesla China made a substantial adjustment to the prices of Model 3 and Model Y, first a large-scale price reduction at the beginning of the year, in which Model 3 dropped by 2.0-36000 yuan, Model Y dropped by 2.9-48000 yuan, and the prices of the two models fell to an all-time low. In nearly a month or so, Tesla successively carried out five rounds of price increases, ranging from 1500 yuan to 14000 yuan, including four times in November, with an increase of 1500 yuan to 2500 yuan.

On the contrary, after entering December, auto companies including BYD, Zero, Polar Krypton, FAW Toyota, Changan Automobile and SAIC-Volkswagen have all launched time-limited preferential measures to varying degrees, with a discount strength of about 10 to 58000 yuan.

Judging from the four increases in November, although Tesla China has raised the prices of its two models by a relatively small margin, industry insiders believe: "Tesla is eager to restore gross profit margin because he is currently under great profit pressure." Some netizens believe that Tesla's price increase of "squeezing toothpaste" is creating a sense of tension that "car prices have been rising all the time", allowing consumers to issue orders to pick up cars as soon as possible.

According to official financial reports, this year's Q3 Tesla gross profit margin fell below 18 per cent, down 7.2 per cent from 25.1 per cent in the same period last year, while net profit fell 44 per cent. For comparison, Tesla Q1 gross profit margin dropped from 19.3% to 18.2%. This also means that Tesla's gross profit margin has continued to decline in three quarters this year, which is also the lowest gross profit margin in nearly four years.

Tesla delivered a total of 1.324 million vehicles worldwide in the first three quarters of this year, with an annual sales completion rate of 73.56 per cent. In other words, Tesla needs to deliver about 476000 new cars in the fourth quarter to achieve the original full-year delivery target of 1.8 million.

Tesla China also announced on its official Weibo that by the end of the year, it will receive up to 18000 if it takes away Model 3Universe Y. In addition, customers who meet the requirements of the application can apply for a preferential interest rate loan scheme with an annual rate as low as 2.75% for the purchase of Model 3Universe Y from now on and delivery on December 31st (inclusive). With the end of 2023 coming soon, the answer will soon be revealed whether Tesla can achieve his annual sales target of 1.8 million vehicles.

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