Is Tesla's Delivery Drought Over? Beijing Center Rumored To Have Hit Record Day

Zinger Key Points
  • Tesla’s share in China’s overall pure electric and plug-in hybrid market dropped to 6.8% in the first four months of 2024.
  • The company cut prices on its mass market offerings last month and has announced free supercharging offers for new vehicle purchases.

Tesla Inc‘s TSLA delivery center in Beijing’s Crab Island reportedly recorded its highest delivery volume in a day on Sunday.

What Happened: Photos and videos shared on social media platform X show dozens of Tesla vehicles lined in the center and several customers seated in the waiting area or checking out the vehicles.

Benzinga was unable to independently verify the news or the images. Tesla did not immediately respond to a request for confirmation.

The news was earlier reported by Teslarati, which added that new Tesla registrations in China during the week of May 13 to 19 rose about 41% to 13,800.

Why It Matters: Earlier this month, it was reported that Tesla has cut the output of its Model Y by a double-digit percentage at its Shanghai plant in response to waning demand.

The Shanghai plant is planning to reduce Model Y output by at least 20% from March to June, Reuters reported, while adding that it is not immediately clear if the production slash applies to the second half of the year or to the Model 3 which is also produced at the factory.

Tesla's share in China's overall pure electric and plug-in hybrid market dropped to 6.8% in the first four months of this year from 7.8% in all of 2023, according to the China Passenger Car Association (CPCA). Data released by the CPCA earlier this month showed that the company sold 62,617 made-in-China EVs in April, down 18% year-over-year, including the 30,746 units exported. 

Late last month, Tesla cut prices on Model 3 and Y in China by as much as 6% to bolster sales. While the Model 3 rear-wheel drive now starts at 231,900 yuan in the country, the Model Y starts at 249,900 yuan. Last week, the company further incentivized new vehicle purchases by offering free supercharging miles for select customers who order new cars from May 20 to June 20.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

Read More: Tesla’s Shadow Looms: Rivian Discounts US, Canada Inventory To Stay Competitive

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