Tesla China saw 14,100 new vehicle registrations in the week of June 24-30, 2024. This represents a 19.42% drop compared to the electric vehicle maker’s registrations in the week ending June 23, which was tracked at 17,500 units.
Tesla China does not report its weekly sales figures, though the number of insurance registrations filed every week can give a general idea of the company’s performance in the local automotive market. Fortunately, industry watchers closely observe these registrations, and some automakers like Li Auto have made it a point to share registration data on a regular basis.
$TSLA 🇨🇳
— Tsla Chan (@Tslachan) July 2, 2024
NEWS: Tesla China insured units
<Jun 2024>
3-9 : 12,000
10-16 : 11,700
17-23 : 17,500
*24-30 : 14,100
*I thought Tesla China insurance data wouldn't come out today, but it did. Sorry. Last week's data is 14,100! pic.twitter.com/0cnP3AJfXt
And as per Li Auto’s recent data, Tesla China saw 14,100 new vehicles registrations in the week ending June 30, 2024. This suggests that in 2024 so far, Tesla China has sold about 279,000 vehicles locally. In the same period last year, Tesla China had already sold about 296,000 vehicles to the domestic Chinese market. This suggests that year-over-year, Tesla China’s sales are down over 5%.
While 14,100 new vehicle registrations may seem modest compared to the 17,500 registrations that were tracked last week, they still represent the second-strongest week of registrations for Tesla China in June 2024. For context, Tesla China saw 12,000 registrations in the week ending June 9 and 11,700 registrations in the week ending June 16.
For the week of June 24-30, China reported 14.1k insurance registrations for Tesla. 🇨🇳
— Roland Pircher (@piloly) July 2, 2024
The quarter is +9.0% QoQ and -15.2% vs. 23Q4 the best quarter after 13 weeks. YTD is at -5.5% YoY. pic.twitter.com/22ZHzGL2pw
With the first half of the year completed, Tesla China now seems to be focusing on selling as many vehicles as possible domestically. This was hinted at by Tesla China’s recent programs, such as a zero-interest plan for Giga Shanghai-made Model 3 and Model Y customers. Tesla China also launched a low downpayment plan for the Model 3 and Model Y with annualized interest rates starting at 0.92%.
Tesla China contributed significantly to the company’s overall sales this Q2 2024. For context, Tesla delivered a total of 443,956 vehicles globally in the second quarter of 2024. From this number, 422,405 units were Model 3 and Model Y. The company also produced a total of 410,831 vehicles, 386,576 of which were Model 3 and Model Y.
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