Tesla’s weekly insurance registrations in the domestic Chinese market may be regularly eclipsed by BYD, but a look at the electric vehicle maker’s estimated sales data shows that the Model Y is making one of the biggest waves in the country’s NEV sector. This could be seen in the vehicle’s production last month.
Data from the China Passenger Car Association (CPCA) has shown that Tesla China sold a total of 74,402 Giga Shanghai-made vehicles in February. Among this number, 51,412 were estimated to be Model Y crossovers and 22,990 were Model 3 sedans. A total of 40,479 Teslas were exported from China and 33,993 vehicles were sold locally.
Tesla MIC Feb production✴️modelsModel Y: 51,839Model 3: 20,493(DAAS-AUTO) https://t.co/GjwQgf5ybT
— Moneyball (@MoneybaII_R) March 15, 2023
These sales numbers are impressive on their own, but Tesla China’s February estimated production figures are pretty admirable as well. As per industry trackers, Tesla China produced 51,839 Model Y and 20,493 Model 3 in February. With this, the Model Y effectively became China’s top NEV by production volume. Following the Model Y was the BYD Yuan+ and the BYD Song+ DM-i, which saw a production of 33,473 units and 30,919 units, respectively.
China NEV Feb production✴️models🥇Tesla Model Y🥈BYD Yuan+🥉BYD Song+ DM-i(DAAS-AUTO) pic.twitter.com/qgV1ajz6Dv
— Moneyball (@MoneybaII_R) March 15, 2023
The Model Y’s popularity in China is estimated to have improved following the company’s round of price cuts in January. With the first quarter’s exports completed, Tesla China is now expected to allocate its output to the domestic market. The results of this were hinted at in China’s insurance registrations for the week of March 6 to March 12. While insurance registrations for all passenger cars in China were down 10.6% from the previous week, Tesla China saw its vehicle insurance registrations improve by 28.4%.
Tesla MIC 6-12 Mar insured units✴️modelsModel 3: 5,696,⬆️83.21% WoWModel Y: 11,336,⬆️11.67% WoW(一路向北BYD microblog) https://t.co/EFagBnKg94
— Moneyball (@MoneybaII_R) March 14, 2023
For the week ending on March 12, Tesla China saw 17,032 vehicle insurance registrations, a notable improvement from the 13,266 that were estimated for the previous week. Model Y registrations were listed at 11,336 units during the week, up 11.67%, while Model 3 registrations were listed at 5,696 units, up 83.21% from the week prior.
While Tesla’s potential domination of the mainstream car market may be in the hands of its upcoming next-generation vehicle, the highly speculated “Model 2,” the Model Y is already doing a very good job of showing just how prominent a mainstream electric vehicle maker from the company could be in the electric vehicle sector. Tesla CEO Elon Musk has noted in the past that the Model Y has the potential to become the auto sector’s best-selling car by output. Such a goal is not farfetched today.
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Keyword: Tesla Model Y continues to be a strong presence in China’s NEV segment