Tesla Inc. has reported a significant increase in wholesale sales in the Chinese market, despite facing global declines. The company’s wholesale sales from its Gigafactory in Shanghai, China, reached 69,129 units in January, consisting of Model 3 and Model Y vehicles.
9.32% YoY Increase
This figure represents a 9.32% year-over-year growth in Tesla sales from last January. However, sales are still down by 28.9% compared to the previous month. The data was shared by industry influencer Roland Pircher, who highlighted the rise in sales despite the overall decline in the global market.
Sales Performance
The sales figure includes both domestic sales in China and exports by Tesla. While the company is struggling to boost demand in multiple European markets, with sales in France falling by over 42% last month, the Chinese market has shown promising growth. In contrast, Tesla’s registrations in Norway dropped by almost 90% over the same period.
European Market Performance
In the overall European market, Tesla recorded 35,280 sales in December, which was down 20.2% year-over-year from last year’s 44,190 units sold during the same period. The company is working to revamp its sales strategy and introduce new models to the market.
New and Old Models
Tesla recently unveiled a new trim level of the Model Y crossover SUV, dubbed the Model Y AWD, available at a retail price of $41,990. The new model has an EPA-certified range of 294 miles on a single charge. However, the introduction of the new Model Y trim level coincides with the phasing out of the premium Model S and Model X units from Tesla’s lineup, as confirmed by CEO Elon Musk during the company’s Q4 earnings call.
Future Plans
The move is aimed at boosting Tesla’s Optimus exploits, which Musk believes can help humanity build civilizations on other planets in the future. The company is touting the robot as a von Neumann machine, which can potentially revolutionize the industry.
Market Performance
Tesla’s stock price declined by 0.53% to $419.74 during pre-market trading on Wednesday. Despite the decline, the company remains a major player in the electric vehicle market, with a strong momentum metric and a favorable long-term price trend.
Conclusion
Tesla’s sales performance in the Chinese market is a positive sign for the company, despite the overall decline in global sales. With the introduction of new models and the phasing out of old ones, Tesla is working to revamp its sales strategy and stay ahead in the competitive electric vehicle market.