Tesla China ends May on a strong note with 15,200 new vehicle registrations
Tesla China saw 15,200 new vehicle registrations in the week of May 27 to June 2, 2024. The numbers represent a 16% increase from the 13,100 new vehicle registrations that were recorded in the week ending May 26, 2024.
Tesla China does not report its weekly sales figures, but a general idea of the company’s overall performance in the domestic Chinese automotive market can be inferred through insurance registrations. Fortunately, these new vehicle registrations are tracked by industry watchers. Some automakers such as Li Auto have also taken it upon themselves to share China’s new vehicle registrations regularly.
— 大趙 (@zhongwen2005) June 4, 2024
And as per Li Auto’s recent data, Tesla China saw 15,200 insurance registrations in the week ending June 2, 2024. This meant that Tesla China ended May 2024 on a strong note, and the electric vehicle maker is entering the final month of the second quarter with some momentum. It would then be quite interesting to see the trend in Tesla China’s new vehicle registrations in the coming weeks.
Considering Tesla China’s registrations from the previous week, it would appear that the electric vehicle maker is closing in on its numbers from 2023. Industry watchers have estimated that Tesla China’s 2024 year-to-date domestic figures are down just 2.9% year-over-year. That’s a notable improvement from the week ending April 21, when Tesla China’s domestic registrations were down 12% year-over-year.
In China, 15.0k Tesla insurance registrations were reported for the week of May 27 to June 2.
The quarter is +17.1% QoQ and -13.1% vs. 23Q4 the best quarter after 9 weeks. YTD is at -2.9% YoY. pic.twitter.com/YmJADgwIqS
— Roland Pircher (@piloly) June 4, 2024
Tesla China’s vehicles are produced at Giga Shanghai, which is currently the company’s largest electric vehicle plant by volume. The facility only produces the Model 3 sedan and the Model Y crossover, and as per Tesla’s Q1 2024 Update Letter, Giga Shanghai is currently listed with an estimated annual capacity of 950,000 units. With Giga Texas and Giga Berlin still ramping and the Fremont Factory seemingly fully optimized, Giga Shanghai would probably remain Tesla’s largest factory by volume for some time.
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The post Tesla China ends May on a strong note with 15,200 new vehicle registrations appeared first on TESLARATI.
Source: https://www.teslarati.com/tesla-china-ends-may-15k-new-vehicle-registrations/
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