Tesla is closing out the year in China with a bang, as the automaker continues to see strong insurance registration figures in the final few weeks of the year.
According to the data released on Tuesday, Tesla saw 16,700 insured units recorded in the week of November 18–24. Of those, 6,700 were the Model 3, with the remaining 10,000 units being the Model Y.
This gives Tesla China its highest three-week total for the year, reaching 51,100 insured units so far from November 4 to November 24, and already over 100,000 so far in Q4, with still five weeks to go. If Tesla is able to keep up these kinds of figures over the coming weeks, Tesla China could contribute over 180,000 units in Q4 alone. So far the company has delivered over 500,000 cars in China through the first three quarters of the year.
While Tesla does not directly report its weekly sales in China, insurance registration data is considered a reliable proxy for sales performance.
$TSLA
— Tsla Chan (@Tslachan) November 26, 2024
BREAKING: Tesla China insured units
< Nov 2024 >
4-10 : 17,300
11-17 : 17,100
18-24 : 16,700
Great number! pic.twitter.com/Zjy2dfZb9H
Tesla’s year-to-date domestic insurance numbers reflect a 7.1% increase compared to 2023, according to data tracked by X user Roland Pircher, indicating a consistent upward trajectory in a highly competitive market. With recent weekly averages nearing 17,000 insured units and total November numbers likely to become a record high for 2024, Tesla China is set to make significant contributions to Tesla’s global delivery goals for both Q4 and 2024.
In its Q3 2024 shareholder deck, Tesla projected delivering over 515,000 vehicles in the final three months of the year, a figure which would give the automaker over 1,809,000 deliveries for the year, surpassing last year’s record of 1,808,581 vehicles delivered worldwide.
Part of Tesla’s recent success in China comes from a number of incentives. The company recently announced a discount for the Model Y Rear Wheel Drive (RWD) and Long Range All Wheel Drive (AWD) models. Additionally, Tesla has been offering 0% interest financing for Model 3 and Model Y purchases for a number of months, and that offer was recently extended until the end of the year. The company is also giving new owners the chance to win a tour of Giga Shanghai with paid airfare.
