Tesla China Reports Strong Weekly Registrations in Q4 Push

Tesla China recorded 15,700 new vehicle registrations for the week of October 28 to November 3, 2024, marking a significant 49.52% increase from the previous week’s 10,500 registrations.

While Tesla doesn’t directly report weekly sales figures, vehicle registration data provides valuable insights into the company’s performance in China’s domestic market.

These registrations are meticulously tracked by industry observers and competitors, including Li Auto, which reported the latest figures.

The recent weekly performance has helped push Tesla China’s 2024 domestic registrations to a 6.7% year-over-year increase – a notable achievement considering the company’s registrations were trailing behind 2023’s numbers through the third quarter.

According to the China Passenger Car Association (CPCA), Tesla China’s wholesale figures for October 2024 reached 68,280 vehicles.

This represents a 22.69% decrease from September 2024’s 88,321 units and a 5.32% decline compared to October 2023’s 72,115 vehicles.

Looking at domestic deliveries specifically, Deutsche Bank projected approximately 47,000 units for October.

The CPCA is expected to release Tesla China’s October export figures in the coming days, which will provide a complete picture of the market split between domestic sales and exports.

Q4 Goals and Global Context

Tesla’s CEO Elon Musk has expressed confidence in matching 2023’s record deliveries this year. To achieve this target, Tesla needs to deliver approximately 515,000 vehicles globally in the fourth quarter.

Gigafactory Shanghai, serving as Tesla’s primary export hub, and the Chinese market’s performance will be crucial factors in reaching this ambitious goal.

The recent uptick in weekly registrations suggests a strong start to Q4, though sustained momentum will be essential for meeting the company’s year-end targets.

With China representing one of Tesla’s largest markets and Shanghai’s strategic importance as an export center, the region’s performance will likely play a decisive role in Tesla’s global delivery push for the final quarter of 2024.