Tesla (TSLA) gains momentum in China as registrations reach 16,400 in second week of June

Tesla (NASDAQ: TSLA) China appears to be gaining momentum in the largest domestic auto market in the world as industry trackers reveal Tesla insurance registrations have reached an impressive 16,400 units for the week ending June 11th, bringing the company’s cumulative total of Tesla China’s domestic sales from June 1 to 11 to an estimated 26,000 so far.

Tesla China has seen consistent improvement from its domestic sales. During the week ending May 28, the automaker recorded approximately 12,800 insurance registrations. The subsequent week witnessed a further increase, with an estimated 14,500 insurance registrations. The latest week showcased even greater progress, reaching a notable 16,400 units in terms of insurance registrations.

According to data from the China Passenger Car Association (CPCA) last month, Tesla China sold a total of 77,695 vehicles. It's no surprise that the weekly insurance registrations are on the rise, considering Tesla's tendency to concentrate its resources on the domestic market during the latter part of a quarter.

Shares of TSLA are down 1.63% in afternoon trading on Wednesday.

By Michael Elkins | [email protected]

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