Summary
- Tesla China experienced a 12% growth in electric vehicle sales for Q3 2024
- The China Passenger Car Association reported a 19.2% increase in Tesla China’s EV sales in September compared to the previous year
- Model Y and Model 3 deliveries increased by 1.9% in September compared to August
- Tesla China offered zero-interest financing options to boost sales, extending the promotion to select Model 3 and Model Y variants in October
- Tesla delivered 462,890 vehicles in Q3 2024, slightly surpassing Wall Street’s expectations, with the company producing a total of 469,796 cars in the quarter
Article
In the third quarter of 2024, Tesla China experienced a 12% growth in electric vehicle (EV) sales, according to the China Passenger Car Association (CPCA). Specifically, in September, Tesla China’s EV sales increased by 19.2% compared to the previous year. This growth was driven by a 1.9% increase in Tesla Model Y and Model 3 deliveries in September compared to August. Overall, Tesla China sold 72,000 EVs in the domestic market, representing a 66% increase year-on-year.
To further boost its EV sales, Tesla China has been offering incentives to customers. For example, the company extended its zero-interest financing offer to select Model 3 and Model Y variants in China until October. This move was expected to drive sales in the fourth quarter of 2024. With these efforts, Tesla China aims to maintain its growth trajectory and solidify its position in the competitive EV market in China.
In the third quarter of 2024, Tesla reported delivering 462,890 vehicles, slightly surpassing Wall Street’s consensus of 462,000 deliveries. Additionally, Tesla produced 469,796 cars during this quarter. Year-to-date, Tesla has delivered a total of 1,293,656 vehicles. This strong performance reflects Tesla’s continued growth and success in meeting consumer demand for electric vehicles globally.
Looking ahead, Tesla is gearing up for its Q3 2024 earnings call scheduled for October 23, 2024. During this call, Tesla executives are expected to discuss the company’s financial performance during the third quarter, as well as provide insights into future plans and strategies. Investors and analysts will be eagerly awaiting these updates to gain a better understanding of Tesla’s trajectory and potential opportunities for growth.
For more information or tips related to Tesla China’s EV sales and performance, interested individuals can contact the author, Maria, at maria@teslarati.com or via X @Writer_0100110. This contact information provides a direct channel for engaging with the content and potentially obtaining further insights into Tesla’s operations in China and beyond. Through ongoing updates and communication, stakeholders can stay informed about Tesla’s developments and key milestones in the EV industry.
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