## **Record Production**

Tesla has achieved record production at Giga Shanghai in November, according to China Passenger Car Association (CPCA) data acquired by Shareloft. During the month, Tesla produced 88,654 vehicles comprised of 56,105 Model Y and 32,549 Model 3. This marks a 56% increase from the same month last year, when the company produced almost 57,000 vehicles — a record of its own at the time.

With a slight increase over October’s production of 87,706 cars, November is the fourth consecutive month of record production for Tesla’s Shanghai factory. Despite production increasing by only 948 cars, or 1%, Giga Shanghai’s daily *production rate* increased by 4% month-over-month from 2,829 vehicles to 2,955 vehicles because of one fewer calendar day in November.

## Sales

The CPCA also reported that Tesla sold 62,493 vehicles in China in November while exporting another 37,798 Shanghai-made vehicles during the month. The combined figure of 100,291 vehicles (known as wholesale sales) had  been reported previously.

It is not unusual for wholesale sales to be significantly higher or lower than production. In November, sales outpaced production by 11,637 vehicles. This runs in contrast to October’s results, during which Tesla produced 16,002 more vehicles than were reported as sales. Generally the volatility in these numbers is caused by shifts in allocation of produced vehicles as Tesla manages domestic versus international deliveries.

As Tesla enters the final month of the year, questions have risen while the broader auto market in China has declined. In a note to investors, Piper Sandler analyst Alex Potter [illustrated](https://twitter.com/TeslaPodcast/status/1600903418348179457?s=20&t=pC36vgKQi9FQwPxwGUemZA) the downturn. “This is the first time since 2008 that China's car market has declined m/m in both October and November, which are two of the seasonally strongest months in the year.” Investors are eager to understand how Tesla will fare in such conditions and if the strong start to the quarter can be sustained.

Shareloft annual members can access detailed quarterly financial forecasts for Tesla through 2030 on the [Research](https://www.shareloft.com/research/) page.