

News
Tesla China posts 9.8k domestic registrations as May 2024 nears midway point
Tesla China saw 9,800 new vehicle registrations during the week ending May 12, 2024. While the week of May 6-12 was expected to be a recovery for sorts from the Labor Day holiday on May 1-5, Tesla China nevertheless saw a 10% decrease from the 10,900 units that were registered in the week of April 29 to May 5.
Tesla China does not report its weekly sales figures in the domestic Chinese market, though a general idea of the company’s overall performance can be inferred from new vehicle registrations. Fortunately, these registrations are tracked closely by industry insiders. Some automakers such as Li Auto have also taken it upon themselves to share weekly new vehicle registration data.
And as per Li Auto, Tesla China saw 9,800 insurance registrations last week. This suggests that from May 1-12, Tesla saw 16,900 new vehicle registrations in the local Chinese market, as noted in a CNEV Post report.
For the week of May 6-12, China reported 9.8k insurance registrations for Tesla. ??
The quarter is -5.4% QoQ and -16.3% vs. 23Q3 the best quarter after 6 weeks. YTD is at -5.8% YoY. pic.twitter.com/YfCxlVdZzW— Roland Pircher (@piloly) May 14, 2024
Considering the EV maker’s recent results, it would appear that so far, Tesla China’s numbers are down about 6% year-over-year. That’s quite a bit of an improvement considering that in the week ending April 21, Tesla China’s domestic sales were down 12% year-over-year. And in the week ending April 28, Tesla China’s domestic sales were down 9.5% year-over-year.
$TSLA ??
NEWS: Tesla China insured units
<May 2024>
(29)-5: 11,000
6-12 : 9,800 (Model Y: 8.5k / Model 3: 1.3k) https://t.co/w2rqhVidz6 pic.twitter.com/Obb1NerAbD— Tsla Chan (@Tslachan) May 14, 2024
For context, Tesla sold a total of 31,421 units in the domestic Chinese market in April, as per data released by the China Passenger Car Association (CPCA). Tesla also sold a total of 62,167 Giga Shanghai-made vehicles in April 2024, 30,746 of which were exported to foreign territories.
While this seems to be quite conservative, the electric vehicle maker may see a rise in domestic sales figures in the coming weeks, especially if Tesla China focuses less on exports and more on fulfilling vehicle orders from within the local market. This was hinted at in a recent drone flyover from longtime Tesla China watcher Wu Wa, who observed that Tesla’s vehicles shipments to the Shanghai Southport Terminal have been paused in recent days.
Watch a recent drone flyover of Tesla’s vehicles at the Shanghai Southport Terminal in the video below.
Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.
Investor's Corner
Tesla gets new Street-high price target with high hopes for autonomy domination
“We believe Tesla could reach a $2 trillion market cap early 2026 in a bull case scenario and $3 trillion by the end of 2026 as full-scale volume production begins of the autonomous and robotics roadmap.”

Tesla (NASDAQ: TSLA) received a new Street-high price target from Wedbush’s Dan Ives today, who cited high hopes for the company’s prowess in the autonomous sector.
Ives boosted his price target from $500 to $600 today, reflecting the firm’s view that “an accelerated AI path for the company is now on the horizon and investors are underestimating the transformation underway at the company.”
In a new note written to investors on Friday, Ives cited that Tesla’s next stage of growth has arrived as Elon Musk has re-entered his role as a “wartime CEO,” which gives the company a huge advantage over its competitors.
Musk, when fully committed to Tesla, does his best work, and Ives believes the company’s mark on the autonomous sector will continue to expand with the help of the Trump White House.
He wrote:
“Musk is now driving Tesla into its next stage of growth as ‘wartime CEO,’ and we expect Robotaxis to be rolled out aggressively to over 30 US cities within the next year. We estimate the AI and autonomous opportunity is worth at least $1 trillion alone for Tesla, and we fully expect under a Trump White House over the coming yea,r these key initiatives will now get fast-tracked as the federal regulatory spiderweb that Musk & Co. have encountered over the past few years around FSD/autonomous clears significantly under Trump. Trump wants the US to stay ahead of China in this AI Arms Race, and autonomous is a key factor in who wins AI….with Tesla playing a major role on Robotaxis.”
Most of the note focused on the long-term outlook for Tesla, which is where some of the most drastic claims were made, including ones that estimated a monstrous valuation for the company moving forward.
Ives said Wedbush is under the impression that Tesla could reach a $2 trillion market cap as early as the beginning of 2026 and a $3 trillion valuation by the end of the year. This growth will be primarily driven by the AI portion of the company’s projects:
“We believe Tesla could reach a $2 trillion market cap early 2026 in a bull case scenario and $3 trillion by the end of 2026 as full-scale volume production begins of the autonomous and robotics roadmap. The AI valuation will start to get unlocked in the Tesla story, and we believe the march to an AI-driven valuation for TSLA over the next 6-9 months has now begun in our view with FSD and autonomous penetration of Tesla’s installed base and the acceleration of Cybercab in the US representing the golden goose for Musk & Co.”
In the near term, the only true issue at hand is deliveries, which Tesla should likely have a strong quarter thanks to the removal of the $7,500 EV tax credit. Ives says he expects a beat of Q3 numbers, driven by an “improving demand out of China.”
He also said that while he expects this quarter to be strong, Tesla should aim to return to a run-rate of 500,000 deliveries every quarter, equating to approximately 2 million units per year. This will be driven by new, more affordable models, with the tax credit going away:
“On the near-term delivery front we are seeing a stabilization of demand globally that should enable Tesla to beat the Street’s 3Q delivery number with improving demand out of China. Getting back to a ~500k quarterly run-rate will be important as Tesla now looks to introduce new models to its customer base in 2026. There continues to be weak pockets in Europe but we believe Tesla is now starting to see signs of improvement in demand with a stronger growth trajectory into 2026.”
Tesla shares are up over 1.7 percent so far today, trading at around $430.
News
Astra CEO shades SpaceX over employee workload and Starbase
Elon Musk once stated that no one ever changed the world working just 40 hours a week.

Elon Musk once stated that no one ever changed the world working just 40 hours a week. This was something that is openly known among his companies. They have the potential to change the world, but they require a lot of hours.
SpaceX’s working environment was recently criticized by Chris Kemp, the chief executive officer of Astra. During some remarks at the Berkeley Space Symposium 2025 earlier this month, Kemp shared some sharp remarks about the Elon Musk-led private space enterprise.
SpaceX working conditions and Starbase
As noted in a report from Ars Technica, Kemp discussed a variety of topics during his talk. These included Astra’s successes and failures, as well as his thoughts on other players in the spaceflight industry. To be fair to Kemp, he practically shaded every major rival, calling Firefly’s engine “garbage,” dubbing Blue Origin as slow, and stating that Rocket Lab’s Electron rocket is “too small.”
SpaceX also received some colorful words from the Astra CEO. According to Kemp, SpaceX is leading the way in the spaceflight industry and Elon Musk is admirable in the way that he is willing to fail in order to move quickly. He did, however, highlight that Astra offers a significantly better working environment than SpaceX.
“It’s more fun than SpaceX, because we’re not on the border of Mexico where they’ll chop your head off if you accidentally take a left turn. And you don’t have to live in a trailer. And we don’t make you work six and a half days a week, 12 hours a day. It’s appreciated if you do, but not required,” Kemp said.
Elon Musk’s demands
It is known that Elon Musk demands quite a lot from his employees. However, it is also known that Musk-led companies move very fast and, in more ways than one, they have accomplished world-changing feats. Tesla, for example, has practically ushered in the era of the modern electric vehicle, and SpaceX has made space attainable through its reusable rockets. With this in mind, employees at Musk’s companies, and this of course includes SpaceX, are likely proud of their long work hours.
No one could probably go to Mars in this lifetime with a team that really works just 40 hours a week, after all.
News
Tesla Model Y makes dramatic comeback in Sweden with 492% rise in registrations
The rebound marks a sharp turnaround for the electric vehicle maker.

Tesla registrations in Sweden surged in September, with the Model Y climbing back to the top spot among fully electric vehicles in the country. The rebound marks a sharp turnaround for the electric vehicle maker, with new Model Y figures showing an impressive 492% increase compared to August.
Strong rebound after difficult year
The Model Y had previously slipped to fourth place in Sweden’s rankings, and even with incentives such as zero-interest financing, momentum had been challenged throughout much of the year. That is, at least, until now, with September’s results suggesting a notable recovery for the best-selling Model Y.
Data from Car.info indicates that the Model Y has become Sweden’s most newly registered car in September. Compared to August’s figures, September’s Model Y registrations have seen a stunning 492% rise. It should be noted, however, that year-over-year registrations are still down in the country, as noted in a CarUp report.
European production sees positive trend
Tesla executives have pointed to the company’s broader strength in Europe. Gigafactory Berlin head André Thierig told German outlet dpa that sales have improved enough to prompt revised production targets for the third and fourth quarters. “We currently have very good sales figures and have therefore revised our production plans,” Thierig said, noting that the factory is operating at full capacity.
Apart from the Model Y’s momentum, used Teslas are also starting to see positive trends in Sweden. As per recent reports, electric car dealer Carla, which has grown into Sweden’s second-largest used EV retailer, Tesla resale values jumped nearly 10% between June and August. So notable was the rise in consumer interest in used Teslas that the vehicles ended up helping Carla rebound into profitability.
-
Elon Musk2 days ago
Tesla FSD V14 set for early wide release next week: Elon Musk
-
Investor's Corner2 weeks ago
Tesla bear turns bullish for two reasons as stock continues boost
-
News1 day ago
Tesla has a new first with its Supercharger network
-
News2 days ago
Tesla job postings seem to show next surprise market entry
-
News5 days ago
Tesla makes a big change to reflect new IRS EV tax credit rules
-
Elon Musk2 days ago
Elon Musk’s xAI wins federal AI contract as Grok undercuts ChatGPT
-
News2 days ago
China releases draft on door handle design following Tesla scrutiny
-
Elon Musk2 weeks ago
Tesla Board Chair discusses what is being done to protect CEO Elon Musk