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Tesla’s electric vehicle (EV) sales in China showed robust growth in the third quarter of 2024, with a 12% increase compared to the previous year. The China Passenger Car Association (CPCA) released data on Wednesday, October 9, 2024, revealing even stronger performance in September.
- September Sales:
- 19.2% year-over-year increase
- 1.9% month-over-month growth in Model Y and Model 3 deliveries
- 72,000 EVs sold domestically, up 66% from the previous year
- Q3 2024 Global Performance:
- 462,890 vehicles delivered worldwide
- 469,796 vehicles produced
- Year-to-date deliveries: 1,293,656 vehicles
- Sales Strategies:
- Extended zero-interest financing for select Model 3 and Model Y variants in China
- Continued incentives to boost Q4 2024 sales
- Upcoming Event:
- Q3 2024 earnings call scheduled for October 23, 2024
Tesla’s strong performance in China, coupled with its global delivery numbers slightly exceeding Wall Street expectations, positions the company for a potentially strong finish to the year. The extension of customer incentives in China suggests Tesla is actively working to maintain this sales momentum into the fourth quarter of 2024.
