Tesla Inc., led by Elon Musk, has recorded its highest week of the quarter in terms of Chinese sales. This comes amid growing sales in the region.
27% Growth Over Previous Quarter
The company recorded 19,300 new insured registrations during the week of September 22 - September 28. This brings Tesla’s quarterly sales in China to 165,350, a 27% growth over the previous quarter, although still down 9% YoY.
Quarterly Sales Breakdown
- Week 1-7: 14,300
- Week 8-14: 15,350
- Week 15-21: 17,300
- Week 22-28: 19,300
Tesla’s Chinese Growth
The news comes as Tesla has been reporting steady growth in its Chinese sales, with the company consistently reporting numbers higher than the previous quarter in Q3 in the region.
Australian FSD Milestone
Meanwhile, Tesla owners in New Zealand and Australia have driven more than 621,000 miles using Supervised FSD in the region, less than 2 weeks after the service first launched in the market.
Elon Musk’s FSD Update
Musk recently hinted at a possible update for the FSD system, which would let Tesla vehicles navigate multi-level parking garages using the Summon mode to drive themselves to wherever the owners are located within the lot.
China Lawsuit
However, the company is also facing scrutiny as Tesla was sued by over 7 customers in a court in Beijing over allegedly failing to deliver the FSD features that the customers paid for.
Stock Performance
Tesla scores well on Momentum and Growth metrics, while offering satisfactory Quality, but poor Value. The company also offers a favorable price trend in the Short, Medium, and Long term.
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