Tesla China’s vehicle sales seem poised to impress this August, with estimates from industry watchers indicating that the electric vehicle maker received 13,900 insurance registrations in the week ending August 20. That’s down just 0.71% from the estimated 14,000 registrations that were tracked from the week prior.
Considering Tesla’s results in the week of August 14-20, 2023, it would appear that the electric vehicle maker has so far seen about 39,400 insurance registrations in China this month. Such a number bodes well for Tesla, especially since Giga Shanghai would likely focus its resources on the domestic market in the weeks to come.
For context, Tesla China saw 14,000 vehicle registrations in the week ending August 13. This was a 9.38% improvement from the 12,800 registrations that were tracked from the week before. Tesla China also saw 10,600 insurance registrations in the week ending July 30, 2023.
While Tesla’s domestic sales in China seem consistent for now, especially impressive is the fact that the electric vehicle maker is likely achieving such results with just one vehicle — the Model Y crossover. Expectations are high, after all, that Tesla China is about to start delivering the Model 3’s Project Highland update in the coming weeks.
As such, sales of the Model 3 sedan are likely tempered in the domestic Chinese market today, as some buyers are probably waiting for the updated vehicle to be released. This was certainly suggested in previous reports surrounding Tesla China.
The China Securities Journal, for one, claimed in a report that Tesla China is already taking reservations for the updated Model 3 and that customers are being given the option of taking delivery of a current-generation vehicle with multiple incentives today or waiting for a Project Highland unit with fewer incentives. The publication claimed that more customers are willing to wait for the Project Highland update, at least for now.
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Source: TESLARATI