Reports about the topic were initially posted by Reuters reporting that Tesla planned to cut Model Y production at its Giga Shanghai plant by at least 20% in the March-June 2024 period. Data from the China Association of Automobile Manufacturers (CAAM) appears to support the production cuts, indicating a decrease in Model Y production compared to the same period in 2023. Specifically, the CAAM data showed that Model Y production in China fell by 17.7% in March and by 33% in April, resulting in 49,498 units and 36,610 units, respectively. Additionally, Tesla China produced a total of 287,359 units of Model Y and Model 3 in the first four months of the year, marking a 5% decrease compared to the same period in 2023.
There is uncertainty if the production slowdown is isolated to Giga Shanghai, or if a similar trend is occurring in other Tesla vehicle production plants such as Giga Berlin or the Fremont Factory, as noted by Reuters. The sales numbers revealed a 7.64% decline year-over-year, with the Tesla Model Y accounting for 126,722 of these sales, and the reengineered Tesla Model 3 sedan accounting for 37,119 vehicles. At present, Tesla has not issued any public comment on the matter. Despite the slowdown in Model Y production at Giga Shanghai, Tesla China reportedly aims to sell 600,000 to 700,000 vehicles domestically in 2024, part of a global target of 2 million vehicles for the year.
In 2023, Tesla sold 603,664 vehicles in China and 439,770 units in 2022. Reuters also noted that Tesla has maintained its 2 million vehicle goal for 2024 since the beginning of the year. If you have any news tips to share, please don’t hesitate to contact us.