In June, the new energy vehicle market in China showed a negative growth of 34.9% year-on-year. In sharp contrast, however, Tesla's sales increased by 35% sequentially, taking first place in the new energy vehicle segment. The EV maker is now accounting for 23% of all-electric vehicle sales.
In June, Tesla sold 14,954 units of the Shanghai-made Model 3 in China, according to the China Passenger Car Association (CPCA). Despite the difficulties associated with the COVID-19 pandemic, the auto market in China is highly attracted to the Tesla Model 3.
Notably, Model 3 dominates all major cities in China: Shenzhen, Beijing, and Shanghai. Sales of all other vehicles in these cities pale in comparison to Model 3. All data were obtained from the China Banking and Insurance Regulatory Commission (CBIRC) license plate report.
In Shenzhen, in June 2020, 1,717 new license plates were registered for Model 3. At the same time, BYD Song DM owners registered 583, GAC Aion S owners registered 412, and BYD Qin owners registered 411 license plates, ranking #2, #3, and #4 respectively. Even their cumulative sales are less than that of the Tesla Model 3.
In Beijing, we see similar dominance. In June, 1,876 new license plates were registered for Model 3. The closest competitor is BYD Qin, which sold only 407 units. It should be noted that the number of Model 3 sold exceeds the total number of the next six models from the Top 10.
In Shanghai, we see that there is an overall greater affinity to electric vehicles. In June, 3,171 new license plates were registered for Model 3–over a third more than in other cities. Other EV models are also a bit more popular. The closest competitor to Model 3—the CAIC Roewe ei6—sold 1,089 units. However, this figure still falls short of Model 3 by 2,000 vehicles sold.
Giga Shanghai continues to ramp up production, while Tesla China's team is diligently working to meet the increasing demand of consumers in the local market. Made in China, Model 3 is of high quality and reasonably priced, which is bound to attract even more buyers.