Tesla’s China-made EV sales surged in December, capturing 50% of global deliveries in 2023

Elon Musk’s Tesla (TSLA) reports a substantial 68.7% Y/Y and 14.2% M/M surge in China-made sales for December, reaching an impressive 94,139 vehicles, according to data reported by the China Passenger Car Association (CPCA) on Wednesday.

This marks the second-highest monthly record, with November 2022 holding the top spot at 100,291 units, making December 2023 the best-performing single month of the year.

For FY2023, Tesla sold 947,742 China-made vehicles, nearly matching the Chinese factory’s current capacity, representing a remarkable 33.32% increase from the previous year’s sales of 710,865 in 2022.

China-made deliveries now account for a significant 52.4% of Tesla’s global deliveries of 1.81M units, emphasizing the pivotal role of the Chinese market for the U.S. electric vehicle pioneer.

Globally, Tesla set a new record by delivering 484,507 cars in Q4 surpassing market estimates. Despite this, Tesla lost its top position in the electric vehicle market to BYD (OTCPK:BYDDF), which sold 526,409 units in the same quarter.