Summary
- Tesla China saw 14,400 new vehicle registrations in the week of August 26 to September 1, 2024
- The company’s overall performance can be inferred through new vehicle registrations
- Tesla China is pushing hard to produce and sell more vehicles until the end of the year
- Elon Musk believes Tesla could exceed its 2023 records in 2024
- The company has only delivered 830,776 vehicles between Q1 2024 and Q2 2024
Article
Tesla China experienced an increase in new vehicle registrations in the week of August 26 to September 1, 2024, with 14,400 registrations reported. This represented a 1.41% increase from the previous week’s numbers. While Tesla China does not disclose its weekly sales figures, industry watchers and automakers like Li Auto closely track and report new vehicle registrations to gauge the company’s overall domestic performance. Li Auto’s data indicated consistent growth in Tesla China’s registrations in recent weeks.
The trend in Tesla China’s new vehicle registrations for the third quarter of 2024 suggests that the electric vehicle maker is making significant efforts to produce and sell as many vehicles as possible before the year ends. The company’s hard work appears to be paying off, with industry estimates indicating that Tesla China’s 2024 figures are nearing 2023’s results by only around 5,000 cars. Despite facing challenges with production pauses and retooling activities at Giga Shanghai in 2023, Tesla China saw impressive performance throughout the year.
Elon Musk expressed confidence in Tesla exceeding its 2023 records in 2024. However, with Tesla delivering 1,808,581 vehicles in full year 2023 and only 830,776 vehicles between Q1 and Q2 2024, it is evident that the company, particularly Tesla China and Giga Shanghai, will be very busy in Q3 and Q4 of 2024. The company’s focus on ramping up production and sales in China is evident in the consistent growth in new vehicle registrations, signaling a positive trajectory for Tesla’s performance in the country.
The solid performance of Tesla China, as indicated by increasing new vehicle registrations, reflects the company’s commitment to the Chinese market. With Giga Shanghai producing both the Model 3 sedan and the Model Y crossover, Tesla has a strong presence in the country’s electric vehicle sector. Furthermore, the quarter-over-quarter and year-over-year growth in new vehicle registrations demonstrates Tesla’s ability to maintain momentum in Q3 of 2024, showcasing the company’s resilience and growth in the Chinese market.
With Tesla’s continued success in China, the company’s prospects for the remainder of 2024 look promising. By leveraging Giga Shanghai’s production capacity and focusing on increasing sales and deliveries, Tesla is positioned to achieve strong results by the end of the year. As Tesla China’s new vehicle registrations continue to show positive growth trends, the company’s overall performance in the Chinese market is expected to remain robust, indicating a successful year ahead for Tesla and its operations in China.
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