Tesla Giga Shanghai’s Model Y production rate is quickly outpacing Model 3
Tesla Gigafactory Shanghai is producing Model Y vehicles at a rate that is quickly outpacing that of the Model 3, showing the demand for the all-electric crossover is larger than that of its smaller sibling.
The factory in China has been Tesla’s biggest producer of vehicles in the past, and the Model Y and Model 3 are also the automaker’s two most popular vehicles.
When Tesla released the Model Y, the Model 3 was dominating EV sales charts, and it also accounted for a vast majority of the company’s sales.
Tesla Model 3 and Model Y see shorter delivery wait times in China
However, CEO Elon Musk said that Tesla expected the Model Y to become the company’s best-seller. Even more optimistically, he expected the Model Y to top global sales charts across all vehicles.
While the Model Y has definitely become the favorite among car buyers in terms of Tesla vehicles, it is no secret that it has also become the prioritized vehicle at Giga Shanghai.
Data from Troy Teslike, a data-driven account on X that follows the company’s developments, the Model Y has been outpacing the Model 3 in terms of production:
Giga Shanghai production is expected to be a new record in Q4. Model Y to Model 3 ratio was 1.77 last year. It’s expected to be around 2.07 this year. In other words, Giga Shanghai makes twice as many Model Ys as Model 3s. pic.twitter.com/OuQvrfK7Qv
— Troy Teslike (@TroyTeslike) December 15, 2023
For the year, Tesla is building twice as many Model Ys as Model 3s, which is a proven reflection of how popular the Model Y has been, especially in China. The numbers for Q4 on Troy’s chart are estimates.
Giga Shanghai also supplies Model 3s to the European and Middle Eastern markets.
According to Troy, the Model Y also aligns with Tesla’s financial goals as it offers better margins than the Model 3. Tesla has some of the best gross margins in the automotive industry, and increasing that improves the company’s financials and profitability altogether.
As Tesla hopes to reach its 1.8 million unit bogey for the year, it will be interesting to see the confirmed figures for Shanghai after the New Year.
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The post Tesla Giga Shanghai’s Model Y production rate is quickly outpacing Model 3 appeared first on TESLARATI.
Source: https://www.teslarati.com/tesla-giga-shanghai-model-y-production-rate-quickly-outpacing-model-3/
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