Tesla China Sales Fall Sequentially For Second Month In A Row, Down 2.8%: CPCA Data

Tesla Inc’s TSLA China wholesale volume more than doubled in November year-over-year but slipped for a second straight month sequentially, as per the China Passenger Car Association (CPCA).

What Happened: The Elon Musk-led company sold 52,859 electric vehicles to dealers in China, a rise of 144.7% on a year-on-year basis, cnEVpost reported on Wednesday, citing data from the national automotive agency.

The latest numbers indicate Tesla’s wholesale volumes declined 2.8% in November on a month-over-month basis.

November sales include 21,127 export units, implying it sold 31,732 electric vehicles in China, as per the CPCA data. Tesla shipped out 40,066 electric vehicles in October.

China’s overall new energy wholesale volumes for passenger vehicles rose 148.1% to 429,000 vehicles on a year-on-year basis and up 131.7% on a year-on-year basis and 18% from October. The bulk of those wholesale volumes were battery electric vehicles at 343,000 units. 

See Also: Volkswagen Outdoes Nio In China EV Deliveries With ID. Series But Falls Short Of Another Key Rival

Why It Matters: Tesla has been making the Model 3 electric sedan and the Model Y sport-utility vehicles at its Shanghai gigafactory.

Homegrown rivals Nio Inc NIO, Xpeng Inc XPEV and Li Auto Inc LI reported their deliveries for November last week. 

Each of the three players said they delivered more than 10,000 electric vehicles — with Xpeng leading the pack at 15,613 units, Li Auto grabbing the second spot at 13,485 units and Nio dispatching 10,878 units to dealers during the month. 

German automaker Volkswagen Group VWAGY sold 14,100 locally made ID. series units in November. The legacy automaker, which has been selling the ID. family of electric vehicles in China since June, had sold 12,736 ID. series electric vehicles in October.

Price Action: Tesla shares traded 1.4% lower at $1,036.99 in pre-market session on Wednesday.