tesla model y china

Tesla China sees 15K insurance registrations for March’s 4th week

Credit: Tesla Asia/Twitter

Tesla China’s domestic sales may have seen a dip during March 2023’s fourth week, but they were still enough to help pave the way for a potential blockbuster quarter. In the week ending March 26, industry watchers tracked 15,886 insurance registrations for Tesla China. 

While 15,886 insurance registrations are nothing to scoff at, the number is about 15% less than the registrations from the week ending March 19. For that week, Tesla China saw 18,712 insurance registrations. Overall, the company’s insurance registration numbers suggest that Tesla China has sold over 64,800 vehicles domestically this month so far. 

It should be noted that several days remain before the end of March. With this in mind, it would not be surprising if Tesla China ends up posting extremely impressive domestic sales numbers this quarter. So far, it appears that Tesla has sold over 122,000 domestically produced vehicles in China since January. 

Provided that the company maintains this momentum, Tesla could very well post record quarterly numbers this Q1. Estimates from industry watchers point to Tesla potentially ending the first quarter with about 134,000 insurance registrations. That’s enough to make Q1 2023 a record for the electric vehicle maker. Monthly records may be another thing, however, as Tesla China delivered 77,938 units locally in June 2022. 

Tesla China currently produces two vehicles domestically, the Model 3 sedan and the Model Y crossover. Both vehicles are sold domestically and exported to foreign territories. Considering that Gigafactory Shanghai serves as a primary vehicle export hub for the company, Tesla China typically allots the first half of a quarter to exports and the latter half to the domestic market. 

Tesla China’s results this month so far place the company behind NEV leader BYD, which saw 43,490 registrations last week, an improvement over the 38,414 that were registered the week prior. BYD’s insurance registrations were listed at 38,932 and 37,141 units in the first and second weeks of March. It should be noted, however, that BYD’s numbers include vehicles that were not battery-electric cars. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Tesla China sees 15K insurance registrations for March’s 4th week
To Top