Tesla Model 3/Y Lead Luxury Auto Insurance Registrations in China: Sept 2021
China remains an important market for Tesla, as evidenced by the company’s Shanghai Gigafactory hitting 300,000 cars produced between January and September.
Tesla landed second place for both the top September OEMs and the top luxury auto vehicles, according to insurance data collected by CBIRC as shared on Friday (via @DKurac).
The all-electric U.S. company insured a total of 51,971 units in China in September, falling just behind BMW, which insured a total of 61,017 units in the same month. But it’s worth noting Tesla vehicles are all-electric, unlike BMW’s fleet.
Regarding specific models, the Tesla Model Y landed the most registered spot with a total of 33,018 units insured, landing just ahead of the Tesla Model 3, which saw a total of 18,940 units insured in September.
In the new energy-only category, Tesla also ranked second for the most insured OEM in China in September, falling behind only BYD and landing just ahead of the SAIC-GM-Wuling joint venture.
It’s worth noting China considers new energy vehicles as both battery-hybrid and all-battery electric cars. BYD has a blend of plug-in hybrid and all-electric cars.
Regarding specific models, Tesla’s units only fell behind the SAIC-GM-Wuling joint venture’s Wuling HongGuang Mini EV, which costs just a fraction of that of any Tesla model and is also the size of a golf cart.
With a total of 37,896 units insured in September, the Wuling Mini EV outpaced the Tesla Model Y by just a few thousand, with the latter claiming 33,018 units insured in China in September.
Behind the Model Y was the Model 3, which saw a total of 18,940 units insured within the same month.
Nonetheless, it’s clear demand for Tesla keeps rising in China, fuelled by the company’s Gigafactory in Shanghai, which is able to build and deliver vehicles right inside the country.