Tesla needs to achieve record-breaking sales in the final quarter to set a new delivery record in 2024, and it looks like the company’s performance in China will play a pivotal role to help it surpass its 2023 delivery numbers.
According to newly released data from the China Passenger Car Association (CPCA), Tesla reported wholesale sales of 78,856 vehicles in November. This was a 15.49% increase from October’s 68,280 units, and a slight year-over-year dip of 4.34% compared to November 2023, which saw 82,432 vehicles sold.
As mentioned, these are wholesale figures and include a both domestic deliveries and international exports. A breakdown of these figures should be released later this week.
While we wait for the official figures, November’s insurance registration data in China showed a strong focus on the domestic market, with those figures indicating a little more than 70,000 of the total vehicles sold were purchased by Chinese consumers. This aligns with Tesla’s strategy of capitalizing on domestic demand at the end of a quarter.
Tesla China saw 18,700 insured units in the fourth week of November.
— Drive Tesla (@DriveTeslaca) December 3, 2024
This is the second highest weekly total in 2024, pushing Tesla to around 70,000 units in November.
Q4 in China is going to be https://t.co/7StNz4yFz2 pic.twitter.com/x3SIei41Vy
The strong sales figures are thanks in part to a number of incentives currently available to Chinese buyers. Last month tesla introduced a ¥10,000 (C$1,930/US$1,380) discount on the Model Y for deliveries completed by the end of December. Tesla is also offering 0% interest financing available until the end of the year. There is also the chance of winning a tour of Giga Shanghai, with airfare and hotels paid for.
In 2023 Tesla China accounted for 947,742 of the company’s total deliveries. Through November, Tesla China has sold 822,894 vehicles, meaning close to 125,000 deliveries need to take place in China in December to surpass its 2023 total.
Globally, Tesla aims to deliver over 515,000 vehicles in Q4 2024, a figure which if reached would break its previous quarterly delivery record of 485,000 units set in Q4 2023. It would also push Tesla’s total deliveries in 2024 to above 1.8 million, surpassing the previous record set last year.
