Standard Range Model Y Unavailable Until 2024
According to a social media post from Tesla's Chinese team, the Standard Range version of the Model Y is no longer available to order for the remainder of 2023. This rapid sellout highlights the incredible demand in the world's largest auto market for Tesla's lineup of EVs.
China Key to Tesla's Growth
The Chinese market has emerged as essential to Tesla's global expansion ambitions. Fueled by government incentives and enthusiasm for EVs, China has spearheaded consumer adoption of electric cars. Only Norway, Iceland, Sweden and the Netherlands have seen faster EV growth rates.
Production from Tesla's Shanghai Gigafactory has been instrumental in meeting voracious Chinese demand. The factory celebrated the production of its 1 millionth Model Y earlier this year, reaching the milestone at industry-leading speed.
Pushing Toward 1.8 Million Deliveries
Selling out of a top-selling model in its second largest market illustrates that Tesla continues to be production-constrained, not demand-constrained. As the company works to increase output and fulfill Elon Musk's vision of reaching 1.8 million deliveries in 2023, strong China sales will be essential.
While the Model 3 sedan previously led Tesla's global popularity, consumer preference has shifted decisively towards the Model Y crossover utility vehicle body style in recent years. With the Model Y outselling the Model 3, selling out the Standard Range Model Y suggests immense appetite for Tesla vehicles in China entering 2024.