Gary Zhou 
Key Points
- 📈 Tesla China reported 17,400 insurance registrations in the first week of December, marking a 4.19% increase from the previous week.
- 🌐 The total estimated insurance registrations for Tesla China in November reached over 82,000, with a quarter-end projection of 105,000 units, potentially breaking the company’s record.
- 🚗 The momentum is attributed to the popularity of the updated Model 3 (Highland) and the refreshed Model Y in the Chinese market.
- 🌐 Tesla CEO Elon Musk reveals plans for the next-generation $25,000 electric vehicle (EV), with the first production line set for Giga Texas, followed by Giga Mexico.
- 🔧 Musk emphasizes that the manufacturing process for the low-cost EV will be revolutionary, featuring advanced production technology not seen in any other automotive plant on Earth.
Tesla China’s insurance registrations for the week ending December 3, 2023, showed an improvement compared to the previous week, which was already quite impressive in its own right. Over the week of November 27-December 3, Tesla saw over 17,400 insurance registrations across China.
This represents a 4.19% increase from the 16,700 insurance registrations that were tracked during the fourth week of November. For context, Tesla China saw 14,000 insurance registrations in November’s first week, 12,700 in the second week, 16,300 in the third week, and 16,700 registrations in the fourth week of the month.
Considering the insurance registrations that have been tracked for Tesla China so far, it would appear that the electric vehicle maker has seen over 82,000 insurance registrations from the domestic Chinese market in November, as estimated by CNEV Post.
Tesla bull Gary Black, Managing Partner of The Future Fund, LLC, observed that after nine weeks in the quarter, Tesla China’s insurance registrations appears to have totaled about 105,000 units. That’s on pace to break the company’s record, which currently stands at 156,700 registrations for a quarter, as noted by the Wall Street veteran.
With 17,400 insurance registrations to start December, it would appear that Tesla China has some serious momentum to close out the year. Such a scenario seems feasible considering the popularity of the updated Model 3, better known in EV circles as the Model 3 Highland, and the Model Y, which was also given a minor refresh.
While Tesla China keeps its weekly sales figures under wraps, insights into the overall automotive landscape in the country can be gleaned from weekly new vehicle registration data. Thankfully, industry experts and companies like Li Auto, an electric vehicle manufacturer, have stepped up to compile and share China’s weekly insurance figures.
