Tesla China appears to be sustaining its momentum in the current quarter, as the electric car manufacturer observed 12,500 new vehicle registrations during the period from July 29 to August 4, 2024. This indicates a 7.41% decline from the previous week’s 13,500 registrations ending on July 28.
Although Tesla China does not disclose its weekly sales numbers, insights into the company’s overall domestic sales can be gleaned from the new vehicle registration statistics. Fortunately, industry observers closely monitor vehicle registrations. Some Chinese automakers like Li Auto have also been regularly publishing registration data.
During the week from July 29 to August 4, China reported 12.5k insurance registrations for Tesla. 🇨🇳
The quarter exhibits a +39.5% increase quarter-over-quarter and +18.6% compared to Q1 2024, marking the strongest quarter after 5 weeks. Year-to-date shows a -1.8% decline year-over-year. This is the second-highest week of the quarter. pic.twitter.com/1Gyc4vRjYB
— Roland Pircher (@piloly) August 6, 2024
According to recent reports from Li Auto, Tesla China witnessed 12,500 fresh vehicle registrations by the week ending on August 4, 2024. Observers in the industry have highlighted that the electric car manufacturer’s domestic sales are only marginally down by 1.8% year-on-year. This indicates that Tesla China is steadily approaching or potentially surpassing its domestic sales figures from the previous year.
During this quarter, Tesla China seems to be benefiting from positive factors. In July alone, the electric car maker delivered 74,117 units at the wholesale level as per data from the China Passenger Car Association (CPCA). The results for Tesla China in July 2024 exhibited a 4.38% improvement over the 71,007 wholesale units sold in June. Additionally, it reflected a 15.3% increase compared to the 64,285 units wholesaled in July 2023.
$TSLA pic.twitter.com/N2FQEviwls
— Tsla Chan (@Tslachan) August 6, 2024
Tesla China plays a vital role in the overall operations of the electric car manufacturer, with Giga Shanghai serving as the primary hub for exporting vehicles. Reports earlier this year suggested that vehicle production at Giga Shanghai was being restricted. However, Chinese media outlets that visited Giga Shanghai have claimed that the electric vehicle plant is now operating at full capacity once again.
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