Recent estimates from China suggest that Tesla has seen insurance registrations of 11,670 units during the first week of December. The number is roughly in line with the expectations of TSLA bulls who are closely following the company.
From November 28 to December 2022, China’s NEV sales based on insurance registrations were estimated at 129,000 units. That’s up 36.7% year-over-year and up 5% from the previous week, according to estimates from industry watchers in China.
Tesla China Weekly Insured Units (Week 48): 11,670This number is in-line with @TroyTeslike's expectation of ~12K. I charted today's released number against all previous weeks of the second half of this year.📊: Tesla China Weekly Insured Units: H2 2022 pic.twitter.com/nsCoYWJZaF
— Mathias Føns (@FonsDK) December 6, 2022
Estimates also suggest that China’s overall vehicle sales were at 387,000 for the week. From this number, internal combustion engine-powered cars were estimated to account for 258,000 units. BYD and Tesla saw strong sales during the week, with 40,243 and 11,670 units registered, as per a report from CNEV Post.
While 11,670 units is a step down from the insurance registrations from the fourth week of November, which stood at over 16,000 units, it is an improvement from the first week of the previous month. For context, Tesla China saw insurance registrations of 11,195 vehicles in the first week of November.
New weekly Tesla China car insurance data is expected to be released in 10-12 hours.• 12K would be as expected• 14K would be very good• 16K would be excellentHere is what happened so far in Q4: pic.twitter.com/qWV4M7pQlv
— Troy Teslike (@TroyTeslike) December 5, 2022
Tesla bulls have responded positively to the update from China, with noted EV watcher @TroyTeslike noting that insurance registrations of about 12,000 units in the first week of December would be in line with expectations. Tesla China’s sales may see a surge in the following weeks, however, especially as the country eases up on its Covid restrictions.
Tesla China’s December numbers would have to be record-breaking for them to exceed expectations since the electric vehicle maker sold a record 100,291 domestically-made cars in November. With such results, Cui Dongshu, the secretary-general of the China Passenger Car Association (CPCA), estimated that Tesla China’s annual sales for the year could hit about 750,000 on its own.
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Keyword: Tesla China sees estimated 11,670 insured units in December’s first week