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New Tesla Model Y was a best-seller in China in March 2025

It appears that the new Tesla Model Y ended March as one of China’s best-selling vehicles.

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Credit: Tesla China

The new Tesla Model Y’s domestic deliveries in China only started ramping in March, but it was enough to make a significant impact in the country’s vehicle market.

Based on results from the previous weeks, it appears that the new Model Y ended March as one of China’s best-selling vehicles.

The Results

Rankings from China for March 2025 suggest that Tesla China was able to sell 43,370 new Model Y units during the month. This effectively made the revamped all-electric crossover the country’s best-selling battery electric vehicle by volume. 

On the heels of the new Model Y was the significantly cheaper and smaller Hongguang Mini EV, which sold 34,720 units during the month. The reengineered Tesla Model 3, another premium vehicle, also performed well in March. As per China’s rankings, the all-electric sedan sold 23,230 units during the month, making it the country’s 7th best-selling battery electric vehicle.

The New Model Y’s Ramp

The new Model Y started domestic deliveries in China in late February, and sales have seen some momentum since then. As per estimates from industry watchers, Tesla China saw 6,700 insurance registrations for the new Model Y in the week ending March 2. 

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Insurance registrations rose to 8,700 new Model Y units in the week ending March 9; 9,450 units in the week ending March 16; 10,628 units in the week ending March 23; and 14,600 units in the week ending March 30, 2025. This suggests that the new Model Y is seeing quite a lot of interest among consumers in China.

Elon Musk’s Prediction

During Tesla’s Q1 2025 All-Hands meeting, CEO Elon Musk highlighted that the Model Y became the world’s best-selling car in 2023 and 2024. Even if Tesla ended up throttling its deliveries in the first quarter due to the transition of the new Model Y in Giga Texas, the Fremont Factory, Giga Shanghai, and Giga Berlin, Musk remained optimistic about the revamped all-electric crossover’s chances this 2025.

“We actually literally make the best-selling car on Earth of any kind. That’s two years in a row. And it’s going to be the best-selling car on Earth again this year,” Musk stated during the meeting.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Analyst: Elon Musk’s $1 trillion Tesla pay deal modest against robot market potential

Jonas highlighted Tesla’s longer-term ambitions in robotics as a key factor in his assessment.

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Credit: Tesla

Morgan Stanley analyst Adam Jonas, one of Wall Street’s most ardent Tesla (NASDAQ:TSLA) bulls today, has described Elon Musk’s newly proposed $1 trillion performance-based compensation package as a “good deal” for investors. 

In a note shared this week, Jonas argued that the package helps align the interests of Musk and Tesla’s minority shareholders, despite its shockingly high headline number.

Future market opportunities

Jonas highlighted Tesla’s longer-term ambitions in robotics as a key factor in his assessment. “Yes, a trillion bucks is a big number, but (it) is rather modest compared to the size of the market opportunity,” Jonas wrote. He added that the humanoid robot market could ultimately surpass the size of today’s global labor market “by a significant multiple.”

“We have entertained scenarios where the humanoid robot market can exceed the size of today’s global labor market… by a significant multiple,” Jonas wrote, as shared on X by Tesla watcher Sawyer Merritt.

The analyst likened the arrival of AI-powered robotics to the transformative effect of electricity, noting that “contemplating future global GDP before AI robots is like contemplating global GDP before electricity.” The Morgan Stanley analyst’s insights align with the idea that as much as 80% of Tesla’s future valuation could be tied to its Optimus humanoid robot program.

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Elon Musk’s pay package

Tesla’s board has tied Elon Musk’s proposed compensation package to some of the most ambitious targets in corporate history. The 2025 CEO Performance Award requires the automaker’s valuation to soar from roughly $1.1 trillion today to $8.5 trillion over the next decade, a level that would make Tesla the most valuable company in existence.

The plan also demands a leap in Tesla’s operating profit, from $17 billion in 2024 to $400 billion annually. It also ties the CEO’s compensation to a number of product milestones, including the delivery of 20 million vehicles in total, 10 million active Full Self-Driving subscriptions, 1 million Tesla Bots, and 1 million Robotaxis in operation. Tesla’s board emphasized that Musk’s leadership was fundamental to achieving such ambitious goals, with Chair Robyn Denholm noting the award would align the CEO’s incentives with long-term shareholder value.

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Tesla China posts strongest registrations of Q3 so far with first Model Y L deliveries

Tesla posted 14,300 insurance registrations in China during the week of September 1–7.

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Credit: Tesla China

Tesla posted 14,300 insurance registrations in China during the week of September 1–7, a 14.4% increase from the previous week’s 12,500 units. 

The figure marks Tesla’s highest weekly performance so far this quarter so far, despite the company’s year-over-year figures still being below 2024’s numbers.

Weekly registrations

The week’s registrations broke down to 5,000 Model 3s and 8,400 Model Ys, including the first 900 units of the newly launched Model Y L variant, as per estimates from industry watchers. On a quarterly basis, Tesla China is tracking 41.3% growth compared to the previous quarter, which bodes well for the company’s results this Q3 2025.

For the month of August, Tesla sold 57,152 vehicles in China, down 9.93% from the same period in 2024 but up 40.7% from July’s 40,617 units, according to the China Passenger Car Association (CPCA). Year-to-date, Tesla’s China sales are 7.2% lower compared to the previous year.

Model Y L first deliveries

The week ending September 7 was the first week that included the newly released Model Y L, a six-seat extended wheelbase version of the company’s best-selling all-electric crossover. Industry watchers estimate that last week, the first 900 units of the Model Y L have been registered, though this number is expected to increase in the coming weeks as deliveries of the vehicle hit their pace.

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Citing information from a Tesla store in Beijing, Chinese media outlet Cailianshe stated that the Model Y L has been seeing a lot of interest among car buyers. “(The Model Y L) is selling very well. Since its launch, 120,000 orders have been received, with nearly 10,000 orders placed every day. The first batch of customers began receiving deliveries in the past two days,” a Tesla representative stated.

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Tesla launches MultiPass to simplify charging at non-Tesla stations

With the new service, Tesla owners can activate charging either through the Tesla app or by using their existing Tesla key card.

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tesla nacs charger
(Credit: Tesla)

Tesla has introduced MultiPass, a new feature that allows owners to use their Tesla account to charge at non-Tesla charging stations. 

The service launched this week in the Netherlands, giving drivers the ability to find chargers, start sessions, and view charging history directly within the Tesla app.

Streamlining third-party charging

With MultiPass, Tesla owners can activate charging either through the Tesla app or by using their existing Tesla key card. This eliminates the need for separate accounts or additional cards from third-party networks. Tesla Charging highlighted the convenience of managing charging sessions in one location in a post on X, while Max de Zegher, Tesla’s Director of Charging for North America, emphasized that the update removes unnecessary friction.

“Nobody likes creating more accounts with payment details and passwords. For charging, this can even mean needing a third-party charging card mailed to your house. Starting in the Netherlands today, your Tesla App and your existing (!) Tesla keycard can start charging at third-party chargers. We’ll expand this to more countries quickly if customers love it. To make ownership effortless, the Tesla App should really be the only thing you need,” the Tesla executive wrote in a post on X.

Third-party payments and a familiar name

Tesla owners could pay for their third-party charging session with their Tesla accounts, as per the electric vehicle maker on its official website. Payments are drafted from users’ default payment method in the Tesla App, though charging costs will still vary depending on the third-party charger that is used.

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Interestingly, the MultiPass name also echoes a pop culture reference. In the 1997 sci-fi film The Fifth Element, Leeloo Dallas-505 carried a futuristic “Multipass” smart card that functioned as her ID, passport, and ticket to space travel. Her accented repetition of “Multipass!” became one of the film’s most memorable lines, and it highlighted the card’s all-in-one convenience.

Tesla has not provided a timeline for Multipass’ U.S. rollout, though the service could become an important addition to the growing but often fragmented landscape of DC fast charging.

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