© Reuters. Tesla China (TSLA) insurance registrations reach 16.7K in November’s 4th week
Tesla (NASDAQ:) China’s insurance registrations show a slight increase in the week ending November 26, with a recorded count of 16,700 across the nation. This marks a 2.45% rise from the preceding week’s figure of 16,300.
To provide context, the first week of November logged 14,000 insurance registrations, followed by 12,700 in the second week.
Tesla China abstains from disclosing its weekly sales figures, yet an estimation of the nation’s broader automotive market can be deduced from the weekly count of new vehicle registrations filed.
Based on the tracked insurance registrations, Tesla China appears to have accumulated approximately 56,000 vehicle insurance registrations within the Chinese market from November 1 to November 26, according to a CNEV Post report.
With a few days remaining in the month, the company stands a strong chance of ending November on a positive path.
Ever since beginning deliveries of the upgraded Model 3, recognized in the EV community as the Model 3 Highland, Tesla China has experienced a significant uptick in insurance registrations.
Notably, for the week concluding on November 26, Tesla China recorded 16,700 insurance registrations—an all-time high for this fourth quarter.
It’s worth mentioning that Tesla China also concluded the third week of November with an impressive 16,300 insurance registrations. Consequently, Tesla China’s fourth-quarter insurance registrations are now hovering just below the company’s record-setting quarter.
Notably, there are five weeks remaining in Q4 2023, suggesting potential for further growth in registrations.
Shares of TSLA are up 0.61% in mid-day trading on Tuesday.