Tesla sells 32,165 China-made vehicles in May, down 4% Y/Y and production up more than 200% M/M
Electric vehicle manufacturer, Tesla (NASDAQ:TSLA) has sold 32,165 China-made vehicles in May vs. 1,152 vehicles sold in April.
The company exported 22,340 units during the month vs. nil in April and 60 in March and 11,527 in May 2021.
Local deliveries of 9,825 units, represents 62% decline Y/Y.
The Shanghai plant reopened on April 19 after 22 days of city-wide lockdown and resumed exports on May 11 but has struggled to get production back to pre-lockdown levels.
Tesla's Shanghai factory production has rebounded by 212% to 33,544 vehicles in May.
Model 3 retail sales in China for the month were 3,950 units, down 57.10% Y/Y and up 615.58% M/M.
Model Y SUV retail sales in China were 5,875 units down 53.84% Y/Y and up 511.98% M/M.
Passenger car sales in China fell 17.3% Y/Y to 1.37M in May.
June sales should be 10% to 20% higher than a year earlier, CPCA secretary general Cui Dongshu told reporters. Demand from earlier months, suppressed by lockdowns that have now eased, would support June sales, Cui said.
Production at Shanghai factory is on track to fall by over a third this quarter from the first three months of the year.
Tesla (TSLA) is aiming to make more than 71,000 vehicles at its Shanghai plant in June, according to an internal production memo seen by Reuters.
BYD's (OTCPK:BYDDF) sales grew 8% M/M to 114,943 units; Nio's (NIO) May delivered 7,024 units, up 4.7% Y/Y, XPeng (XPEV) delivered 10,125 Smart EVs in May 2022, +78% Y/Y and Li Auto (LI) delivered 11,496 Li ONEs in May 2022, +165.9% Y/Y.
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A quick look at monthly sales in China:
On Wednesday, the company announced expansion of store presence in China to Inner Mongolia.