Tesla China sees 15,700 new vehicle registrations in Q4’s 5th week

Tesla China saw 15,700 new vehicle registrations during the week of October 28 to November 3, 2024. These results represent a 49.52% week-over-week increase from the 10,500 insurance registrations that were recorded in the week ending October 27, 2024. 

Tesla does not report its weekly sales figures, though a general idea of the company’s overall performance in China’s domestic automotive market can be inferred through vehicle registration data. Fortunately, these registrations are tracked closely by industry watchers and automakers such as Li Auto.

And as per Li Auto’s recent data, Tesla China saw 15,700 insurance registrations in the week ending November 3, 2024. Industry watchers note that with these results, Tesla China’s 2024 domestic registrations are now up 6.7% year-over-year. This is quite impressive considering that until the third quarter, Tesla China’s 2024 domestic registrations were lagging 2023’s numbers. 

In China, 15.7k Tesla insurance registrations were reported for the week of October 28 to November 3.

The quarter is -8.7% QoQ, +20.0% YoY. YTD is at +6.7% YoY. Highest 5th week of the quarter ever. Highest week of the quarter. pic.twitter.com/cibotZzIC3

— Roland Pircher (@piloly) November 5, 2024

Recently released data from the China Passenger Car Association (CPCA) have revealed that Tesla China sold 68,280 vehicles wholesale in October 2023. The results represent a 22.69% decline from the 88,321 vehicles that were sold wholesale in September 2024 and a decline of 5.32% from October 2023’s 72,115 units.

#Tesla China sold 15,700 units last week pic.twitter.com/DMBe2m1VEd

— 大趙 (@zhongwen2005) November 5, 2024

Tesla China’s October 2024 wholesale numbers include vehicles that were exported abroad, though in a note in late October, Deutsche Bank forecasted that Tesla China may see about 47,000 domestic deliveries during the month. The CPCA’s report on Tesla China’s export figures in October is expected to be released in the coming days.

$TSLA
NEWS: Tesla China insured units

< Oct 2024 >
(30)-6 : 1,800
7-13 : 8,500
14-20 : 13,200
21-27 : 10,100
28-(3) : 15,700 pic.twitter.com/DQwTz7sC1g

— Tsla Chan (@Tslachan) November 5, 2024

Elon Musk has previously stated that Tesla could match its record vehicle deliveries in 2023 this 2024. For Tesla to achieve this ambitious goal, the company would have to deliver about 515,000 vehicles globally this fourth quarter. Considering that China is one of Tesla’s largest markets and Gigafactory Shanghai is the company’s primary vehicle export hub, Tesla China would most definitely play a huge role in the EV maker’s delivery push this fourth quarter.

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