Tesla Inc. has seen a significant surge in China, with over 13,060 new insured registrations. This milestone marks a major achievement for Elon Musk’s automaker as it continues to build upon its growth in the Chinese market.
Key Highlights
- Record High Registrations: Tesla reported 13,060 insured registrations in China for the week of May 26-June 1.
- Quarterly Surge: The company experienced a 2.6% quarter-over-quarter surge in registrations over the past 9 weeks.
- Yearly Decline: Despite the quarterly surge, sales are still down 21.4% compared to last year.
Strong May Performance
According to Gary Black, managing director of Future Fund LLC, this was the highest week of the quarter so far for Tesla in China. The company’s strong May performance is a positive indicator of its growth in the region.
Global Sales Trends
Tesla’s growth in China is accompanied by a surge in Norwegian sales, largely driven by the new Model Y. This surge could be a silver lining for the company, which has been struggling with lackluster sales in various markets.
Upcoming Launches
Meanwhile, Tesla is gearing up to launch its Robotaxi on June 12 in Austin. However, experts believe that the company’s Full Self-Driving (FSD) technology still requires significant improvement.
Expert Insights
Ross Gerber, co-founder of Gerber Kawasaki, admits that Tesla’s FSD technology needs a lot of work, particularly when compared to competitors like Waymo.
Stock Performance
Tesla scores well on Momentum, Growth, and Quality metrics but offers poor Value. For more insights, consider signing up for stock rankings and analysis services.
Related News
For more information on Tesla and the future of mobility, check out the following articles:
- Elon Musk’s Tesla Files New Autonomous Taxi Trademark Application Ahead Of Robotaxi Launch In June
- Tesla Sales Hit 3-Year Low In European Nation Despite Musk’s Claims Of No Demand Problem
Photo Courtesy
Photo courtesy: Ken Wolter / Shutterstock.com