Tesla China had higher insurance registrations for the week ending December 3 than the prior week’s already remarkable results. The electric vehicle giant enjoyed a notable 4.19% week-on-week increase in its insurance registration as it kicks off the fourth quarter’s remaining month, as per the data shared by content creator @Tslachan.
Insurance registrations record
Tesla China’s insurance registrations surpassed 17,400 electric vehicles in the world’s largest auto market in the November 27-December 3 period. It indicates a 4.19% growth from just 16,700 units from the week of November 20-26.
For reference, Tesla China started November with 14,000 insurance registrations in the first week. It recorded another 12,700 units in the second week, followed by 16,300 in the third week.
In the fourth week, Tesla China reached 16,700 registrations. It represents an improvement of about 400 units from the prior week.
Attached to the X post below are Tesla China’s insurance registrations records for 2023:
CnEVPost observed that Tesla seems to have surpassed 82,000 insurance registrations in November based on the monitored data for the Chinese arm so far.
Tesla to break quarterly record
The Future Fund Managing Partner Gary Black expressed his calculations on Tesla’s performance in the nine weeks of the quarter. According to the Tesla bull, the automaker’s domestic insurance registrations seem to have reached a total of approximately 105,000 units.
Interestingly, this figure indicates that the Musk-led company is already on track to break its quarter record of 156,700 registrations.
Driving factors
Tesla China’s strong performance in early December demonstrates its potential to hit records this year. Notably, the results are unsurprising, considering the launch of the new Tesla Model 3 Highland in the local market.
Tesla also released an upgraded Tesla Model Y with a minor design refresh. In addition, the automaker also announced new insurance subsidies and loan offers to boost its end-of-the-quarter results.
EV-a2z recently reported that Tesla Model 3 and Y RWD inventory unit buyers who take delivery on or before December 31 can secure an RMB 8,000 insurance subsidy.
Tesla also offered customers a new loan offer with rates as low as 2.75% annually for 3-5 years. These pricing efforts will undoubtedly boost Tesla’s sales and delivery figures in the final month of 2023.
