Tesla China Exports Surge in October Thanks To Model 3 Highland

Image Credit: Tesla Asia/X

The updated Model 3 Highland’s ramp last month had a notable effect in Tesla China’s numbers for October 2023. This was hinted at in data released by the China Passenger Car Association (CPCA).

What's happening: According to CPCA data, Tesla China exported 43,489 vehicles in October. However, domestic sales slipped 34.2% from September to 28,626 vehicles.

Why it matters: While Tesla typically prioritizes domestic sales in the early part of a quarter, the number of exports in October may have been more pronounced since the Model 3 Highland only started domestic deliveries in the final days of the month. 

Thus, for most of October, Model 3 Highland units that were produced at Giga Shanghai were exported abroad. 

By the numbers:

• Tesla's overall sales in China in October, including exports, totaled 72,115 vehicles, according to the CPCA. 
• Of the vehicles sold in China in October, 47,164 were Model Y and 24,951 were Model 3.
• Tesla's share of China's new energy vehicle (NEV) market in October was 3.73%, down from 5.83% in September.
• Its share of the BEV market was 5.78%, down from 8.7% in September.

What's next: Tesla's domestic sales are expected to rebound in November with the start of deliveries of the updated Model 3, known as Project Highland.

Here's what else you need to know:

• Tesla's exports from January to October are estimated at 308,816 vehicles, a 40.74% improvement year-over-year.
• Tesla China's overall domestic results for the year have been impressive. From January to October, the company delivered 462,355 vehicles in China, an increase of 37.87% year-over-year.

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