Tesla (TSLA) sees 10K new China registrations in July’s 2nd week

Industry watchers estimate that Tesla (NASDAQ: TSLA) China saw 10,000 domestic sales during the week ending July 16.

Tesla China does not publicly disclose its weekly sales figures in the country. However, the overall trajectory of the company's domestic sales can be deduced by examining the number of newly registered vehicles in the preceding week. In China, insurance registrations are closely monitored, and electric vehicle manufacturers like Li Auto regularly release weekly reports on insurance registrations in the country.

Considering that there were only 3,200 insurance registrations for the week ending July 9, Tesla China saw a 212.50% increase in domestic sales week-over-week. This also means that between July 1 and 16, Tesla China was able to sell around 13,000 vehicles domestically in China.

Tesla China continues to be a major player in the electric vehicle industry. On July 13th, Tesla made an exciting announcement that Gigafactory Shanghai had just hit a huge milestone by producing its one millionth Model Y to date. This is pretty impressive considering Model Y production only started in January 2021, surviving headwinds such as last year’s Covid-related shutdowns.

Shares of TSLA are down 1.09% in morning trading on Tuesday.

By Michael Elkins | [email protected]

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