Industry watchers in China have released their estimates for the week of February 13-19, 2023. The estimates suggest that Tesla China saw 5,913 insurance registrations during the week, a time when the electric vehicle maker is still focusing on exporting its vehicles.
Tesla Gigafactory Shanghai serves as the company’s primary vehicle export hub. Thus, Tesla China typically focuses its resources on exports for the first half of a quarter before shifting to the domestic market in the second half. With this in mind, and based on recent drone flyovers at the Shanghai port, it would appear that Tesla China still focused mostly on exports during the February 13-19 period.
That being said, the number of Tesla China’s local vehicle registrations did see a drop last week. For context, the company saw 6,963 insurance registrations for the local market in the week of February 6-12, 2023. Based on estimates from industry watchers in China, a total of 4,334 Model Y and a total of 1,579 Model 3 were registered in the February 13-19 period.
Tesla China is busy this month. Previous reports have noted that Model 3 production would be paused at Giga Shanghai until the end of February as the electric vehicle maker rolls out updates to the all-electric sedan’s line. These efforts are reportedly being made to make way for a revamped version of the Model 3 sedan in China. The upgrades to the Model 3 line seem secret as well, with some Giga Shanghai workers reportedly not allowed on production lines as the upgrades were implemented.
China is one of Tesla’s most important markets, and it is also the country where the company has the strongest competition. Tesla China’s insurance registrations in the coming weeks would then be very interesting, as they would provide a glimpse at how the electric vehicle maker is faring in the country’s domestic market despite the presence of a growing number of competent rival electric cars. Considering the price cuts to the Model 3 and Model Y implemented last month, however, Tesla China’s domestic orders may pleasantly surprise.
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