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Tesla Model 3 sales in China spike 7% in August

Tesla's Made-In-China Model 3 gets its first customer deliveries. (Source: Tesla China | Twitter)

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Tesla Model 3 sales in China spiked 7% in August compared to July. Tesla’s most affordable all-electric sedan sold 11,811 units last month, compared to 11,014 vehicles in July.

Data from the Chinese Passenger Car Association (CPCA) indicates that Tesla sold 7% more vehicles in August than July, showing a sizeable increase in sales during the eighth month of the year. Tesla’s demand for the Model 3 has remained healthy since the company started delivering the vehicle in January 2020.

Since the beginning of the year, Tesla has released new variants of the Model 3 to Chinese consumers. Additionally, the company has made cosmetic changes with a recently revealed chrome delete feature and performance improvements that have come through software updates.

The Made-in-China Model 3. (Credit: Tesla China)

Tesla’s sale of the Model 3 has significantly contributed to the electric vehicle market in China. According to the EV Sales Blog, Tesla’s sales figures through July accounted for more than 13% of the total Chinese EV market share.

According to the Wall Street Journal, new-energy vehicle sales have surged 43.7% in August compared to the same month in 2019. The efforts that the Chinese government has made to increase the sales of electric vehicles, like offering subsidies and installing a more broad number of charging stations, have worked.

The City of Beijing even campaigned in smaller towns and villages during the first week of September, encouraging people to buy EVs produced by Chinese manufacturers.

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Interestingly, the sales figures throughout the country haven’t slumped despite widespread flooding that has destroyed the homes and crops of many Chinese workers. These floods ultimately impacted the incomes of many families, which would make purchasing a car more difficult.

The floods and loss of incomes have not hindered the surge in sales for electric vehicles.

Tesla has sold nearly 71,000 Model 3 sedans in China in 2020, making it the most popular EV in the country by a considerable margin. Tesla has taken advantage of the government subsidies that are offered by adjusting the prices of its Standard Range+ Model 3.

However, the company’s appeal in China has also contributed significantly to its sales figures. The company has attempted to get owners involved in the company’s effort to expand its fleet of sustainable vehicles in the country. During the end of quarter sales push in Q2, Tesla requested that owners volunteer at local showrooms to help prospective buyers purchase a new vehicle.

Additionally, Tesla is also planning to build a “China inspired” EV for the market, which will be designed by the citizens themselves. The company is already hiring for its first international design studio, which will work on producing new designs that embody the Chinese style and culture.

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Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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NHTSA probes 2.9 million Tesla vehicles over reports of FSD traffic violations

The agency said FSD may have “induced vehicle behavior that violated traffic safety laws.”

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Credit: Whole Mars Catalog/YouTube

The U.S. National Highway Traffic Safety Administration (NHTSA) has opened an investigation into nearly 2.9 million Tesla vehicles over potential traffic-safety violations linked to the use of the company’s Full Self-Driving (FSD) system.

The agency said FSD may have “induced vehicle behavior that violated traffic safety laws,” citing reports of Teslas running red lights or traveling in the wrong direction during lane changes.

As per the NHTSA, it has six reports in which a Tesla with FSD engaged “approached an intersection with a red traffic signal, continued to travel into the intersection against the red light and was subsequently involved in a crash with other motor vehicles in the intersection.” Four of these crashes reportedly resulted in one or more major injuries. 

The agency also listed 18 complaints and one media report which alleged that a Tesla operating with FSD engaged “failed to remain stopped for the duration of a red traffic signal, failed to stop fully, or failed to accurately detect and display the correct traffic signal state in the vehicle interface.”

Some complainants also alleged that FSD “did not provide warnings of the system’s intended behavior as the vehicle was approaching a red traffic signal,” as noted in a Reuters report.

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Tesla has not commented on the investigation, which remains in the preliminary phase. However, any potential recall could prove complicated since the reported incidents likely involved the use of older FSD (Supervised) versions that have already been updated. 

Tesla’s recent FSD (Supervised) V14.1 update, which is currently rolling out to drivers, is expected to feature significantly improved lane management, intersection handling, and overall driving accuracy, reducing the chances of similar violations. It should also be noted that Tesla maintains that FSD is a supervised system for now, and thus, is not autonomous yet.

While autonomous systems face scrutiny, NHTSA’s own data highlights a much larger danger on the road from human error. The agency recorded 3,275 deaths in 2023 caused by distracted driving due to activities like texting, talking, or adjusting navigation while operating a vehicle manually. It is also widely believed that a good number of traffic violations are unreported due to their frequency and ubiquity.

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Tesla quietly files for Model Y+ in China, and its range numbers could be wild

The upcoming variant was listed in the Ministry of Industry and Information Technology’s (MIIT) public catalog.

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Credit: Tesla

Tesla has filed for regulatory approval of a new Model Y+ in China, hinting at a long-range update to its best-selling crossover SUV. 

The upcoming variant was listed in the Ministry of Industry and Information Technology’s (MIIT) public catalog.

Mirroring Model 3+ Range

Based on the MIIT’s catalog, the Model Y+ will feature a 225 kW/302 horsepower single-motor setup. It will also feature ternary LG Energy Solution batteries, similar to the long-range Model 3+, which was launched earlier this year. The vehicle is expected to offer around 800 kilometers of CLTC range, potentially making it the longest range Model Y in Tesla China’s lineup.

The new Model Y+, identified under model number TSL6480BEVBR0, retains the same five-seat configuration and dimensions as the current Model Y. Though Tesla has not yet confirmed official range figures, industry observers expect it to be quite similar to the Model 3+’s 830-kilometer CLTC performance, as noted in a CNEV Post report.

Intensifying Competition

Tesla’s filing comes amid intensifying domestic competition in China. The U.S. EV maker sold 57,152 vehicles in August, down nearly 10% year-on-year, though up almost 41% from July’s 40,617 units, as noted by data from the China Passenger Car Association (CPCA). Still, the Model Y+ could help Tesla regain traction against strong local players by offering class-leading range and improved efficiency, two factors that have become a trademark of the electric vehicle maker in China. 

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Tesla’s experience with the Model 3+, which received a RMB 10,000 price cut within a month of launch, suggests that raw range numbers alone may not guarantee stronger sales. With this in mind, the rollout of features such as FSD could prove beneficial in boosting the company’s sales in the country. 

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Elon Musk

‘I don’t understand TSLAQ:’ notable investor backs Tesla, Elon Musk

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tesla showroom
(Credit: Tesla)

One notable investor that many people will recognize said today on X that he does not understand Tesla shorts, otherwise known as $TSLAQ, and he’s giving some interesting reasons.

Martin Shkreli was long known as “Pharmabro.” For years, he was known as the guy who bought the rights to a drug called Daraprim, hiked the prices, and spent a few years in Federal prison for securities fraud and conspiracy.

Shkreli is now an investor who co-founded several hedge funds, including Elea Capital, MSMB Capital Management, and MSMB Healthcare. He is also known for his frank, blunt, and straightforward responses on X.

His LinkedIn currently shows he is the Co-Founder of DL Software Inc.

One of his most recent posts on X criticized those who choose to short Tesla stock, stating he does not understand their perspective. He gave a list of reasons, which I’ll link here, as they’re not necessarily PG. I’ll list a few:

  • Fundamentals always have and will always matter
  • TSLAQ was beaten by Tesla because it’s “a great company with great management,” and they made a mistake “by betting against Elon.”
  • When Shkreli shorts stocks, he is “shorting FRAUDS and pipe dreams”

After Shkreli continued to question the idea behind shorting Tesla, he continued as he pondered the mentality behind those who choose to bet against the stock:

“I don’t understand ‘TSLAQ.’ Guy is the richest man in the world. He won. It’s over. He’s more successful with his 2nd, 3rd, and 4th largest companies than you will ever be, x100.

You can admit you are wrong, it’s just a feeling which will dissipate with time, trust me.”

According to reports from both Fortune and Business Insider, Tesla short sellers have lost a cumulative $64.5 billion since Tesla’s IPO in 2010.

Elon Musk issues dire warning to Tesla (TSLA) shorts

Shorts did accumulate a temporary profit of $16.2 billion earlier this year.

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