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Tesla On Pace To Shatter Delivery Record In China

Tesla On Pace To Shatter Delivery Record In China

With the excitement of last week's Cybertruck reveal behind Tesla, attention now turns back to where the rubber meets the road: selling cars.

And in China, at least, it looks as though Tesla's continued strategy of aggressive pricing is still paying off. In fact, Tesla is now on a pace to reach its best ever deliveries number in China, where the market has been saturated with EV competition. 

Last week, Tesla insurance registrations in China reached 17,600, marking a 5.4% increase from the previous week's 16,700, according to Investors Business Daily. This count marks the fifth full week since Tesla started delivering its revamped Model 3 in China.

As the report notes, the data does not differentiate between Model 3 and Model Y registrations, but "so far in Q4 Tesla China insurance registrations, a rough gauge for vehicle deliveries, total 104,500 for the quarter, up more than 3% compared to the same point in Q3," the report notes.

IBD wrote on Tuesday morning that the number marks a 10% rise from Q2, where Tesla set a record of 156,676 vehicles delivered. 

In November, Tesla reported the sale of 82,432 vehicles manufactured in China, a 14.3% rise from October's 72,115, reversing two consecutive months of declining sales, according to data from the China Passenger Car Association (CPCA). 

Tesla also confirmed on Monday that two of its Model 3 versions in the U.S. will no longer qualify for the full $7,500 Inflation Reduction Act (IRA) tax credit. Starting January 1, 2024, the rear-wheel drive and long-range trims of the Model 3 will only be eligible for a $3,750 credit, as stated on Tesla's website.

Recall, the automaker started deliveries of its Cybertruck last week. During Tesla's Cybertruck delivery event last week, Elon Musk showcased once more that the electric truck's 301 stainless steel exoskeleton can withstand 9mm and .45 ACP bullets.

The truck boasts two models, a 600-hp dual-motor AWD model and an 845-hp tri-motor "Cyberbeast" model. As Car and Driver noted, Tesla says "the Cybertruck can tow up to 11,000 pounds and has an estimated driving range of up to 340 miles."

Tyler Durden
Tue, 12/05/2023 - 11:45