TSLA
Tesla China Reports Strong Weekly Registration Numbers
Tesla China’s performance continues to strengthen as new vehicle registrations hit 13,200 in the week ending October 20, 2024, marking a significant 55.29% increase from the previous week’s 8,500 registrations.
While Tesla China doesn’t directly publish weekly sales data, insurance registration numbers tracked by industry observers and competitors like Li Auto provide valuable insights into the company’s market performance.
The latest registration data reveals encouraging growth, with Tesla China’s year-to-date domestic registrations showing a 6.7% increase compared to 2023. This improvement is particularly noteworthy given that the company’s domestic registrations were trailing behind 2023’s figures until the third quarter.
According to the China Passenger Car Association (CPCA), Tesla China achieved impressive wholesale figures in September, selling 88,321 vehicles – their second-best monthly performance in 2024, just shy of March’s 89,064 units. The September figures included 72,200 vehicles for the domestic market and 16,121 units for export.
Tesla maintains its position as one of the few successful foreign automakers in China’s competitive market, with both the Model Y crossover and Model 3 sedan showing strong performance. While anticipation builds for the launch of Full Self-Driving (Supervised) in China, recent local reports indicate the advanced driver-assist system’s release may be delayed until after Q1 2025.