Tesla Receives 200,000 Orders For Refreshed Model Y In China: Report

American EV giant Tesla Inc. TSLA has reportedly received 200,000 orders for its refreshed Model Y in China, spurring hopes of deliveries rising in coming months.

What Happened: Tesla has received 200,000 orders for the new Model Y from the time it was launched in January, Chinese media platform 36Kr reported, citing sales staff at Tesla’s stores in China. A lot of these orders include refundable ones, the report noted.

However, many of the orders are indeed progressing to deliveries, as per the report. In the first week of the start of delivery, over 6000 vehicles were delivered across the country, the report said.

Tesla launched the refreshed Model Y in January and started delivering the vehicle in late February.

In China, the refreshed vehicle starts at 263,500 yuan, nearly 5.4% pricier than the older version of the vehicle which started at 249,900 yuan.

Why It Matters: Model Y is Tesla’s best-selling vehicle. The refreshed vehicle’s launch follows the company reporting a fall in annual vehicle deliveries globally for the first time in over a decade.

Tesla reported global deliveries of 1.79 million vehicles in 2024, down from full-year deliveries of 1.81 million in 2023.

Tesla CEO Elon Musk said during the company’s earnings call last month that production will be lost during the days of retooling factories to prepare for the refreshed vehicle's production.

The CEO also warned that margins will be impacted due to idle capacity and other ramp-related costs. However, these challenges will be overcome once production is ramped, he said.

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