American electric vehicle (EV) giant Tesla Motors’ wholesale vehicle shipments (local retail sales and export) in China jumped more than 30 per cent to settle at around 74,400 units in February 2023, partly thanks to price reductions.

According to stats released by the China Passenger Car Association (CPCA), Tesla’s overall wholesale vehicle shipments of Made-in-China (MIC) Model 3/Model Y electric cars in China amounted to 74,402 units, up 32 per cent from the corresponding month of 2022. Market analysts were quick to point to price reductions that led to the positive trend.

The wholesale vehicle shipment figure reported for last month is much better than the figures recorded in the previous months of January (66,051) and December (55,796). In the first two months combined, the company’s total volume amounted to 140,453 MIC EVs, which represents a growth of 21 per cent from the corresponding two-month period of 2022.

It may be noted here that CPCA reports only wholesale shipments, not registrations or deliveries to customers.

Things are expected to get better in the second part of this year as the American EV giant should be able to exceeding last year's results, which were affected by lockdowns in the Asian country.

The Giga Shanghai plant, which is also known as Gigafactory Shanghai or Gigafactory 3, is the American manufacturer’s first overseas production plant. As the name suggest, it is located in Shanghai – the biggest city and one of the four direct-administered municipalities of the People's Republic of China. The factory currently produces the Tesla Model 3 electric sedan and Tesla Model Y electric SUV.

In the base trim, the Tesla Model 3 is the only new Tesla EV that can be bought for under $50,000. It takes less than six seconds to accelerate from 0 to 60 mph. its battery pack can be repeatedly charged to 100 per cent of its capacity. Previously, the recommendation was up to 90 per cent. Other notable features of the EV include 18-inch wheels, LED headlights, power-adjustable front seats, and leatherette upholstery.

The 2023 Model Y Long Range is also quite popular, thanks to its specs and feature like single-speed direct drive AWD system, 330-mile driving range on single full charge, and a number of safety features, such as blind spot warning accident avoidance system, pre-collision safety system, front & rear ventilated disc brakes, and stability control.