Tesla China seems to be maintaining its pace this third quarter, with the electric vehicle maker seeing 12,500 new vehicle registrations in the week of July 29-August 4, 2024. This represents a 7.41% week-over-week drop compared to the 13,500 units that were registered in the week ending July 28.
Tesla China does not report its weekly sales figures, though a general idea of the company’s overall domestic sales can be inferred through new vehicle registration data. Fortunately, vehicle registrations are tracked by industry watchers. Some automakers in China like Li Auto have also taken it upon themselves to report registration data on a regular basis.
For the week of July 29 – August 4, China reported 12.5k insurance registrations for Tesla. 🇨🇳
The quarter is +39.5% QoQ and +18.6% vs. 24Q1 the best quarter after 5 weeks. YTD is at -1.8% YoY. Seconnd highest week of the quarter. pic.twitter.com/1Gyc4vRjYB
— Roland Pircher (@piloly) August 6, 2024
And as per Li Auto’s recent posts, Tesla China saw 12,500 new vehicle registrations in the week ending August 4, 2024. Industry watchers have noted that the electric vehicle maker’s domestic sales seem to be just down 1.8% year-over-year. This suggests that Tesla China is steadily getting closer to matching or perhaps even exceeding its domestic sales last year.
Tesla China seems to be seeing some tailwinds this third quarter. In July alone, the electric vehicle maker sold 74,117 units wholesale, as per data from the China Passenger Car Association (CPCA). Tesla China’s July 2024 results represented a 4.38% improvement over the 71,007 units that were sold wholesale in June. It also represented a 15.3% increase year-over-year compared to the 64,285 units that were sold wholesale in July 2023.
$TSLA pic.twitter.com/N2FQEviwls
— Tsla Chan (@Tslachan) August 6, 2024
Tesla China plays a huge part in the electric vehicle maker’s operations, with Giga Shanghai being the company’s primary vehicle export hub. Earlier this year, reports emerged claiming that Giga Shanghai was throttling its vehicle production. Members of local Chinese media outlets who visited Giga Shanghai, however, have claimed that the electric vehicle plant is operating at full capacity once more.
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