Summary
- 13,200 new vehicle registrations for Tesla China in the week of October 14-20, 2024
- Tesla China’s domestic registrations up 6.7% year-to-date compared to 2023
- Tesla sold 88,321 vehicles wholesale in September, second-highest this year
- Tesla Model Y and Model 3 performing well in China’s auto market
- Full Self-Driving release in China may be delayed to first quarter of 2025
Article
In the week of October 14-20, 2024, Tesla China saw 13,200 new vehicle registrations, which marked a significant week-over-week increase of 55.29% from the previous week. While Tesla China does not publicly share its domestic weekly sales results, information on its overall performance in the Chinese automotive market can be gathered through insurance registrations, which are closely monitored and reported by industry observers and companies like Li Auto.
Li Auto’s recent data reveals that Tesla China had 13,200 new vehicle registrations in the week ending October 20, 2024. This indicates a 6.7% increase in domestic registrations year-to-date compared to the previous year. This growth is particularly noteworthy as Tesla’s domestic registrations were initially lower than in 2023 until the third quarter. In September, Tesla China sold a total of 88,321 vehicles wholesale, making it the second-highest month this year after March 2024, when 89,064 vehicles were sold wholesale. Of the total vehicles sold in September, 72,200 were in the domestic Chinese market, with 16,121 vehicles exported to foreign markets.
China reported 13.2k insurance registrations for Tesla in the week of October 14-20. This quarter shows a 17.3% decrease quarter-over-quarter but a 41.5% increase year-over-year. Year-to-date, registrations are up 6.7% compared to the previous year. Tesla is one of the few foreign carmakers that are successfully competing in China’s domestic auto market, with its Model Y crossover and Model 3 sedan performing well in their respective segments. There is also much anticipation surrounding the release of Full Self-Driving (Supervised) in China, although local reports suggest that its launch may be delayed until after the first quarter of 2025.
Despite not publicly sharing its domestic weekly sales results, Tesla China’s performance in the Chinese automotive market can be tracked through insurance registrations. In the week ending October 20, 2024, Tesla China had 13,200 new vehicle registrations, showing a significant increase from the previous week. Year-to-date, domestic registrations are up 6.7% compared to the previous year, with September’s wholesale sales standing as the second-highest this year. Tesla’s success in China’s domestic market is evident with the popularity of its Model Y and Model 3 vehicles.
Tesla continues to be one of the few foreign carmakers that are able to compete effectively in China’s domestic auto market, with notable sales of the Model Y crossover and Model 3 sedan. The company’s performance in the Chinese automotive market is closely monitored through insurance registrations, which showed 13,200 new registrations in the week of October 14-20, 2024. While Tesla China is experiencing growth year-over-year, recent reports indicate a delay in the release of Full Self-Driving (Supervised) in China until after the first quarter of 2025. Despite this delay, Tesla remains a key player in the Chinese automotive market.
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