Summary
– Tesla China had 14,100 new vehicle registrations in the week of June 24-30, 2024
– This was a 19.42% drop compared to the previous week
– Tesla China’s local sales for the year so far are at 279,000 vehicles
– Despite the drop, the week’s registrations were the second-strongest for Tesla China in June 2024
– Tesla China is focusing on domestic sales with new plans and programs including a zero-interest plan for certain models
Article
Tesla China experienced a slight decrease in new vehicle registrations during the week of June 24-30, 2024, with 14,100 registrations recorded, indicating a 19.42% drop compared to the previous week’s 17,500 registrations. While Tesla China does not publicly report its weekly sales figures, the number of insurance registrations filed each week can provide insights into the company’s performance in the local automotive market. Industry analysts closely monitor these registrations, and some automakers like Li Auto regularly share registration data.
Li Auto’s recent data revealed that Tesla China recorded 14,100 new vehicle registrations in the week ending June 30, 2024. This suggests that Tesla China has sold approximately 279,000 vehicles locally in 2024 so far, indicating a decrease of over 5% compared to the same period last year when they had sold around 296,000 vehicles. Despite the decrease in registrations from the previous week, the 14,100 registrations still represent the second-highest week of registrations for Tesla China in June 2024.
As the first half of the year comes to a close, Tesla China appears to be focusing on maximizing vehicle sales within the domestic market. This is evident from their recent initiatives, such as offering a zero-interest plan for Giga Shanghai-produced Model 3 and Model Y vehicles, as well as introducing a low downpayment plan for these models with annualized interest rates starting at 0.92%. These programs are aimed at boosting sales and increasing market penetration for Tesla China in the country.
Tesla China’s performance in Q2 2024 significantly contributed to the company’s overall sales figures during that period. Globally, Tesla delivered a total of 443,956 vehicles in the second quarter of 2024, with 422,405 units being Model 3 and Model Y vehicles. Production numbers for the same period stood at 410,831 vehicles, with 386,576 of them being Model 3 and Model Y models. These figures indicate the strong demand for Tesla’s electric vehicles both in China and globally.
The insurance registration data for Tesla China during the week of June 24-30 highlighted the company’s continued presence and performance in the local automotive market. Despite the slight decrease in registrations compared to the previous week, Tesla China remains a significant player in the Chinese electric vehicle market. The company’s innovative programs and offerings, such as zero-interest plans and low downpayment options, demonstrate Tesla China’s commitment to expanding its market share and attracting more customers.
Overall, the insights provided by the insurance registration data for Tesla China in June 2024 indicate a solid performance for the company in the local market. While there may have been slight fluctuations in weekly registration numbers, the overall trend suggests that Tesla China continues to be a key player in the Chinese automotive industry. With a focus on increasing domestic sales and introducing customer-friendly initiatives, Tesla China is poised to maintain its strong position and continue its growth trajectory in the region.
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