The Tesla Model Y continues to dominate China’s SUV market, solidifying its position as the best-selling SUV in the country. Data compiled by Yiche from January to August 2024 shows that the all-electric crossover sold an impressive 292,489 units, outperforming other popular SUVs like the BYD Song Plus New Energy and the BYD Yuan Plus.
In addition to the Model Y’s success, the reengineered Tesla Model 3 is also making waves in the Chinese market, with 99,198 units sold during the same period. This could be attributed to the vehicle’s exports to foreign markets, as Giga Shanghai is one of the production facilities for the revamped sedan.
Tesla China seems to be gaining momentum in Q3 2024, with strong new vehicle registration numbers in recent weeks. In the weeks ending September 8 and September 15, Tesla China saw 16,200 and 15,600 new vehicle registrations respectively. If this trend continues, Tesla China’s Q3 2024 results are expected to be impressive.
It is worth noting that Tesla’s success in key markets like China and the United States is achieved with a limited number of products. Recent data suggests that the Model Y is on track to potentially become the best-selling vehicle in the U.S., with a market share of 2.8% through Q2, just behind the Toyota RAV4.
Overall, Tesla’s performance in China’s SUV market is a testament to the brand’s popularity and the growing demand for electric vehicles. With strong sales numbers and a promising outlook for the future, Tesla continues to solidify its position as a leader in the automotive industry.