Wed. Oct 4th, 2023
    Tesla China Sees 20.56% Drop in Weekly Insurance Registrations, But Model 3 Not Included

    Tesla China experienced a decline in insurance registrations during the week of September 11-17. The total number of registrations for that week was 8,500, representing a 20.56% decrease compared to the previous week’s 10,700 registrations. Taking into account the previous weeks’ data, Tesla China has recorded a total of 22,300 vehicle registrations until the end of the previous week. In contrast, the week ending September 3, 2023, saw 11,800 insurance registrations.

    It is important to note that the 8,500 registrations for the week ending September 17 do not include the new Model 3. The updated Model 3 has been made available for pre-sales in China, but customer deliveries have not yet started. Therefore, the registrations likely consist solely of the Model Y.

    Drone flyovers of Gigafactory Shanghai indicate that production of the updated Model 3 is already underway, and initial shipments to foreign markets are in progress. Gigafactory Shanghai is currently the only Tesla factory producing the updated Model 3, and it is also the company’s largest factory by volume. Hence, consistent deliveries of the new Model 3 can be expected.

    With domestic deliveries of the new Model 3 anticipated to begin soon, it is possible that Tesla China’s insurance registrations will see a significant increase in the coming weeks. This would positively impact Tesla’s fourth-quarter results and mark the start of a global ramp-up for the updated Model 3.

    – CNEV Post report
    – Roland Pircher’s tweet
    – ajd69420’s tweet