Tesla China saw 13,200 insurance registrations in the week of March 4 to March 10, 2024. The results show that the electric vehicle maker’s domestic sales in China this first quarter is roughly in the same level as 2023.
With 13,200 insurance registrations in the week ending March 10, 2024, Tesla China’s domestic vehicle sales seem to have seen a 5.6% week-over-week increase. For context, industry watchers estimate that Tesla China saw 12,500 vehicle registrations in the week ending March 3, 2024.
Considering Tesla China’s results from the week ending March 10, 2024, it would appear that the electric vehicle maker’s domestic sales are so far down 24.7% quarter-over-quarter. This is no surprise as the fourth quarter tends to be a lot stronger than the first quarter. Year-to-date, Tesla China’s local sales are currently up 2.5% year-over-year.
The actual number is 13.2k and Tesla is doing better this week than German brands. pic.twitter.com/xbS6Fl7PGP
— Roland Pircher (@piloly) March 12, 2024
Tesla China sold a total of 60,365 Giga Shanghai-made vehicles in February, as per data from the China Passenger Car Association (CPCA). From this number, 30,141 units were sold in the domestic Chinese market, and 30,224 vehicles were exported to foreign territories, as noted in a CNEV Post report. This figure reflected an 18.87% decline compared to February 2023 and a 15.51% decrease compared to January 2024.
It should be noted, however, that Tesla China’s domestic sales and operations in February 2024 were quite affected by the Chinese New Year holiday. Tesla was not the only automaker whose sales saw adverse reactions from the Chinese New Year as well. Domestic automakers like BYD, Nio, and Xpeng, also saw month-over-month and year-over-year decreases in February 2024.
Tesla China’s weekly sales in the domestic auto market are not reported by the electric vehicle maker. Fortunately, a general idea of Tesla China’s weekly performance can be inferred through new vehicle insurance registrations that are filed every week. These insurance registrations, including Tesla China’s figures, are tracked and shared by industry watchers and automakers such as Li Auto on a regular basis.
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