😂 Tesla Model Y 🚗 is China’s top-selling SUV in May

[Hamartia Antidote]

News of Tesla's death in China as usual have been greatly exaggerated.

Tesla Model Y is China’s top-selling SUV in May

The Tesla Model Y sold a total of 31,054 units in May 2023, according to data from the China Passenger Car Association (CPCA).

www.teslarati.com

The Tesla Model Y took its place as China’s top-selling SUV last month. The all-electric crossover, which is produced in Gigafactory Shanghai, sold a total of 31,054 units in May 2023, according to data from the China Passenger Car Association (CPCA).

From January to May, the Model Y sold a total of 152,461 units in China’s domestic market. That’s up 87% year-over-year, which is quite impressive considering that the Model Y is a premium all-electric crossover with a lot of legitimate competition from local rivals. From January to May 2023, the Model Y was the country’s best-selling SUV, electric or otherwise.

With domestic sales of 31,054 units in May, the Model Y saw a month-over-month growth of 16% from April. The number also represents a 428% year-over-year growth in domestic sales.

Following the Model Y was the BYD Yuan Plus, which sold 26,072 units, and the BYD Song Plus, which sold 22,079 units last month. Both popular BYD vehicles stayed behind the Model Y in China’s rankings from January to May as well, with the BYD Song Plus selling 149,485 during the same period and the BYD Yuan Plus selling 117,531 units.

The Tesla Model Y’s stablemate, the Model 3 sedan, saw some impressive sales in China’s domestic market this year as well. The Tesla Model 3 saw retail sales of 11,454 units in May, which is up 189% year-over-year. The figure, however, represented a 13.2% month-over-month decline, according to a CNEV Post report.

The vehicle’s overall performance this year is nevertheless still impressive, with the Model 3 seeing total sales of 67,432 units from January to May 2023. That’s a 76% improvement year-over-year, and it’s also enough to make the Model 3 one of China’s best-selling premium sedans during the period. Such results are not bad at all, especially if one were to consider that some consumers are likely holding off on domestic Model 3 purchases in China due to the vehicle’s highly-anticipated “Project Highland” update.

 

[Hamartia Antidote]

Tesla's $37,000 Model Y is outselling EVs that are seven times cheaper in China

The Tesla Model Y was China's bestselling EV last quarter, but BYD, the homegrown giant, remains a strong competitor

qz.com

Tesla's $37,000 Model Y is outselling EVs that are seven times cheaper in China​

The Tesla Model Y was China's bestselling EV last quarter, but BYD, the homegrown giant, remains a strong competitor

Chinese consumers are snapping up Tesla Model Ys almost as fast as Elon Musk can make them.

The Model Y, which recently became the first EV to claim the title of the world’s top-selling car, sold 94,469 units in China in the first quarter of 2023, according to data from JATO, a London-based market research firm, as cited in a Reuters report.

Model Y sales increased 26% (link in Chinese) year on year in China, accounting for 11% of total EV sales in the first quarter, according to data published by the China Passenger Car Association (CPAC).

Musk, Tesla’s CEO, who touched down in Beijing yesterday (May 30), previously engaged in an aggressive price cut strategy to compete with domestic EV brands including BYD, the EV manufacturer that is China’s largest and is backed by Warren Buffet.


But after successive price slashes since the start of 2023, Tesla began inching prices back up globally earlier this month, with the largest hikes occurring in China. The price increase could be a way of testing the strength of Chinese consumers’ appetites.

A standard Model Y now costs 263,900 yuan ($37,127) according to the Tesla China website, up from its 259,900 yuan ($36,564) price tag in January. In comparison, the Wuling Honggquang Mini, the second-best seller, costs as little as $4,730; with a battery subscription, that price drops even lower, to $2,850.

Charted: The Tesla Model Y topped China’s EV sales in Q1 2023​

#1 Tesla Model Y

#2 Wuling Hongguang Mini

 

[Skull and Bones]

Imagine going on a date in Wuling Hongguang Mini?

 

[Hamartia Antidote]

Imagine going on a date in Wuling Hongguang Mini?

It's their version of a lame 1975 AMC Pacer from Wayne's World

 

[flowerfan2020]

Good job, Tesla. China welcome competition.