Insurance registrations of Tesla vehicles in China jumped to nearly 12,300 units between July 7 and 13, more than doubling from the previous week’s 5,000 units.
In the first week of the month, the Elon Musk-led company recorded its lowest figures in two months, reflecting the typical slowdown seen at the start of each quarter in the automotive industry.
Two weeks into the third quarter, Tesla’s sales in China are up 92.5% compared to the first two weeks of Q2, despite a modest 3.3% decline year-on-year.
Year to date, registrations are down 4.8% compared to the same period in 2024.
Earlier this month, Tesla updated the Long-Range all-wheel-drive version of its Model 3 sedan in China, adding 40 km of range and cutting 0–100 km/h acceleration from 4.4 to 3.8 seconds.
Prices for the Model 3 have been raised by 10,000 yuan ($1,400) to 285,500 yuan ($39,900).
The sedan accounted for 2,850 of the total vehicles sold from July 7 to 13 — nearly doubling from the prior week.
Tesla is currently offering a 0% interest loan on a 5-year financing plan for purchases of the Model 3 Rear-Wheel Drive or Long Range All-Wheel Drive.
The same package can be applied to the refreshed Model Y Rear-Wheel Drive or Long Range All-Wheel Drive. Customers must take delivery of the vehicle by July 31.
In the second week of July, the brand sold 9,410 Model Ys — 165.1% above the prior week’s 3,550 units. The refreshed SUV was the best-selling vehicle in China last month.
Tesla delivered 71,599 vehicles in the Chinese market last month — from which 44,848 were Model Ys — according to data released by China’s Passenger Car Association (CPCA).
Last week, as CEO Elon Musk’s xAI company launched the fourth version of its AI assistant Grok, the Financial Times reported that xAI was preparing to raise fresh capital at a valuation as high as $200 billion.
Musk said then that “these rumors are false” and that “xAI is not seeking funding right now.”
However, over the weekend, Musk said that Tesla shareholders will be asked to vote on a potential investment in Elon Musk’s artificial intelligence startup xAI, while saying that merger between Tesla and xAI is not on the table.
xAI’s Grok is being deployed in Tesla vehicles as part of a new software update. The chatbot is “currently in Beta & does not issue commands to your car,” according to Tesla.
The company’s Board of Directors scheduled its annual shareholder meeting for November 6, following pressure from investors who urged the Board to set a date before the end of the legal deadline. The last meeting was held on June 13, 2024.
Tesla officially launched in India on Tuesday, “through the opening of the Tesla experience centre at Bandra Kurla Complex.”
