Tesla sold 95,366 China-made Model 3 and Model Y cars in September, up 5% from 90,812 a year earlier, according to Reuters, citing industry data released on Friday, October 9. The total includes exports, and it is the 11th straight month of annual gains. August’s gain was 3.6%, so September is a step up.
What the headline hides
China-made does not mean sold in China. Figures reported by CnEVPost split the total: 30,529 cars were exports, up 58.29% from a year earlier, and 64,837 were sold inside China, down 9.35% from a year earlier. CnEVPost says third-quarter exports rose 83.18% and domestic sales fell 16.04%, both from a year earlier. Its figures also show domestic sales up about 29.6% from August, so the yearly decline sits alongside a monthly rebound. The figures come from the China Passenger Car Association and count cars shipped from the factory, including exports.
The wider picture
Reuters calculates that Shanghai-built sales rose 13.7% in the third quarter from a year earlier. Tesla’s global deliveries in the quarter fell 2.1% from a record third quarter a year earlier, but beat forecasts, Reuters reported. Reuters and Benzinga both report discounts through October: 7,000 yuan off the final payment on selected Model Y cars and 5,000 yuan off the Model 3.
Our take: the growth is real, but it is coming from outside China. Exports are doing the lifting while home sales shrink, and the discounts suggest Tesla is working to hold its place there. Reuters gives no domestic and export split, and Tesla has not been quoted in these reports. Next month’s data will show whether the export surge lasts.
