Tesla Inc. (NASDAQ:TSLA) reached its highest week of the quarter in terms of new registrations in the Chinese market, in what could provide the EV giant with a boost amid sales woes.
Tesla registrations Grow Over 41% Compared To Last Quarter
The company reported 14.3k new insured registrations in China during the week of September 1 to September 7, a 41.3% increase from the previous quarter, data shared by influencer Roland Pircher showed on Tuesday.
Despite the quarterly surge, however, the sales are still down 12.1% YoY compared to the same period in 2024 and Tesla's YTD sales are still down 7.8% compared to the previous year.
Tesla Sales Dip In China Despite Model Y L Demand, Model 3 Price Cut
The news comes as Tesla's sales dipped over 10% in the Chinese market during August, as the company delivered 57,152 units. The dip constitutes a sixth decline for the EV giant in 2025.
This is despite the company's newly launched six-seater Model Y L seeing a strong demand in China, as local sales officials said Tesla has recorded over 120,000 orders for the SUV from the day of its launch, averaging 10,000 orders every day.
Tesla has also cut the price of its Model 3 Long Range sedan by 3.7% in China in a bid to boost its desirability amid competition from companies like Xpeng Inc. (NYSE:XPEV), which recently launched the P7 sedan at $30,000 in China.
Market Share Dwindles In The U.S.
Meanwhile, Tesla's market share in the U.S. dipped below 40% for the first time in eight years since October 2017, as the company reportedly holds over 38% of the EV market in the U.S.
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