Tesla China saw 14,300 new vehicle registrations in the week of August 12-18, 2024. This represents a 7.74% drop from the 15,500 registrations that the electric vehicle maker saw in the week ending August 11, 2024.
Tesla China does not report its weekly domestic sales figures, though a general idea of the company’s overall performance in the local Chinese automotive market can be inferred from new vehicles’ insurance registrations. Fortunately, these registrations are tracked and reported by industry watchers, as well as domestic automakers like Li Auto.
$TSLA 🇨🇳
— Tsla Chan (@Tslachan) August 20, 2024
BREAKING: Tesla China insured units
< Aug 2024>
(29)-4 : 12,500
5-11 : 15,500
12-18 : 14,000
(Model Y: 8k / Model 3 : 6k) pic.twitter.com/S9zAH9WQU1
And as per Li Auto’s recent data, Tesla China saw 14,300 new vehicle registrations last week. These figures represent the second-best weekly numbers from the electric vehicle maker this third quarter, exceeded only by the previous week’s 15,500 registrations. For context, Tesla China also saw 12,500 new vehicle registrations in the first week of the third quarter.
Tesla seems to be building up towards a strong Q3 in China. While Tesla China’s overall 2024 numbers are still lagging behind its 2023 figures, the company’s domestic registrations are down just 1.2% year-to-date. Provided that Tesla China maintains its recent momentum, it would not be surprising if 2024’s registrations catch up to the company’s 2023 numbers in the coming weeks.
Tesla's year-to-date sales in China are still slightly negative compared to last year. 🇨🇳
— Roland Pircher (@piloly) August 20, 2024
With 6 weeks left in this quarter, we can expect sales tendency over 15k per week. I think after calendar week 34, sales will surpass last year's sales at some point because last year's… https://t.co/BCgci3mThy pic.twitter.com/kGsbkrRf2E
Such a scenario seems quite likely as Tesla China’s registrations in 2023 saw a drop during the fourth quarter due to the rollout of the reengineered Model 3, which required upgrades to Giga Shanghai and a period when local deliveries of the all-electric sedan were paused. For now, at least, Tesla China is unlikely to see similar headwinds in the coming months.
Elon Musk has noted that Tesla has the capability to exceed its record-setting 2023 global sales figures this 2024. Tesla sold a total of 1,808,581 vehicles during Full Year 2023. In comparison, Tesla has delivered 830,776 vehicles globally between Q1 and Q2 2024. From this number, 426,623 were from Giga Shanghai.
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