Tesla’s Domestic Sales in China Surged in August

Tesla’s sales in China are on track for a record-breaking third quarter in 2024, with domestic sales reaching significant milestones.

According to data shared by @Tslachan, Tesla China exported 23,241 vehicles in August, while domestic sales surged to 63,456 units—the highest monthly figure this year. This brings Tesla’s domestic sales for the first two months of Q3 to over 100,000 vehicles, signaling a strong performance in the Chinese market.

Industry analyst Roland Pircher highlighted that Tesla achieved a 3.3% market share in August, with the Model Y becoming the second best-selling car in China. The company’s market share is now 8% higher than the three-month trailing average, making Tesla the seventh best-selling brand in the country. The sales breakdown shows that 71% of the vehicles sold were Model Y, while 29% were Model 3.

August 2024 marks Tesla’s second-best August ever in China, despite a slight 3% decline compared to August 2023. The company’s performance in Q3 is expected to surpass last year’s figures, with a 26% increase over the same period in the previous quarter, and the potential to set a new annual record.

Company CEO Elon Musk said on Saturday, Giga Shanghai is running at max capacity, despite industry news. “Believing the news is silly. Our Shanghai factory is running at max capacity,” said Musk.

Tesla’s sales growth in China continues to be driven by strong demand for electric vehicles (BEVs), with BEV adoption in the country reaching 30.6% in August. Year-to-date sales are slightly down by 1% compared to the same period last year, but the recent momentum suggests a strong finish for 2024.

Recently, Tesla announced it plans to launch Full Self-Driving in China and in Europe for Q1 of 2025.