Tesla China’s new vehicle insurance registrations for the week of December 25-31 reached 15,800 units. The results represent a 14.59% decrease from the 18,500 registrations that were tracked during the month’s fourth week, which covered December 18-24.
While Tesla does not post its specific weekly domestic sales figures in China, it is possible to gauge the company’s general performance within the local automotive market through new vehicle insurance registrations. Fortunately, industry watchers and automakers such as Li Auto have taken it upon themselves to share weekly insurance registration data.
As per data tracked by Li Auto, Tesla China saw 17,400 new vehicle registrations in the first week of December. This number dropped to 15,400 registrations in the second week, before rebounding to 18,300 registrations in the third week. In the fourth week of December, Tesla China’s insurance registrations were tracked at 18,500 vehicles.
$TSLA 🇨🇳
— Tsla Chan (@Tslachan) January 3, 2024
Tesla China registered 15,800 units of insurance in the last week of last year in 2023.
It sold about 610,000 vehicles in the domestic market alone. pic.twitter.com/w5iqO3PMrt
Considering that Tesla China saw 15,800 new vehicle registrations in the final week of December, it would appear that the electric vehicle maker saw about 76,000 insurance registrations between December 1 and December 31, 2023, as estimated by CNEV Post. For context, data from the China Passenger Car Association (CPCA) revealed that Tesla China’s wholesale figures for the month were 94,139 vehicles.
Tesla China is playing a larger role in the electric vehicle maker’s overall operations. Over the course of the year, Tesla China sold a total of 947,742 Giga Shanghai-made vehicles, which is 52.4% of Tesla’s global 2023 vehicle deliveries of 1,808,581 units. This also suggested that Giga Shanghai ran almost at capacity during the year, which is quite impressive on its own.
Giga Shanghai only produces Tesla’s two mainstream vehicles, the Model 3 sedan and the Model Y crossover. As per Tesla’s Q4 and FY 2023 vehicle production and delivery report, these two models sold 461,538 units, or 95.26% of the quarter’s total deliveries. Similarly, for the full year, Model 3 and Model Y deliveries reached 1,739,707 units, translating to an impressive 96% of Tesla’s 1,808,581 million global deliveries.
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