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Tesla's Model Y has emerged as the best-selling SUV in China, with 292,489 units sold from January to August 2024. The all-electric crossover continues to dominate both battery-electric and traditional SUV markets, significantly outperforming competitors like the BYD Song Plus New Energy.
Tesla Model Y Tops China’s SUV Market with 292,489 Units Sold from January to August 2024
In China's SUV market, the Tesla Model Y remains a remarkable presence, whether battery-electric or not; the all-electric crossover became the most popular SUV in China from January to August 2024.
According to data compiled by Yiche, the Tesla Model Y was sold in the Chinese domestic auto sector in 292,489 units from January to August 2024. In the same period, the BYD Song Plus New Energy and the BYD Yuan Plus, China's two most popular SUVs, sold 245,435 and 169,960 units, respectively.
The re-engineered Tesla Model 3 is also performing relatively well in the Chinese domestic market, with 99,198 units sold from January to August 2024. This may be partially attributable to the Model 3's exports to foreign territories. Giga Shanghai is one of only two Tesla factories that manufacture the redesigned all-electric sedan for the global market.
Tesla China Sees Strong Growth in Q3 2024 with Impressive New Vehicle Registrations
Tesla China is gathering momentum in the third quarter of 2024, as the electric vehicle manufacturer's new vehicle registrations have been quite robust in recent weeks. For instance, Tesla China registered 16,200 new vehicles during the week ending September 8 and 15,600 vehicles during the week ending September 15. If the electric vehicle manufacturer maintains this pace until the end of the quarter, Tesla China's Q3 2024 results could be remarkable.
Tesla's success in critical markets such as China is genuinely extraordinary despite the company offering relatively few products. The same is true for other markets, such as the United States. According to recent data, the Model Y is on the brink of becoming the most popular vehicle in the United States, with a market share of 2.8% through Q2. This results in the Model Y being marginally less popular than the Toyota RAV4, the most popular vehicle in the United States during the second quarter.
