FYI: The Tesla Model Y continues to dominate China’s SUV market, claiming the title of best-selling SUV from January to August 2024.
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### Tesla Model Y Dominates China’s SUV Market in 2024
The Tesla Model Y remains a formidable presence in the Chinese SUV market. From January to August 2024, the all-electric crossover has emerged as China’s best-selling SUV, outpacing both battery-electric and traditional internal combustion engine models.
#### Sales Figures and Comparisons
Data from Yiche indicates that Tesla sold an impressive 292,489 units of the Model Y in the Chinese domestic auto sector within the first eight months of 2024. Following the Model Y are the BYD Song Plus New Energy with 245,435 units and the BYD Yuan Plus with 169,960 units sold in the same period.
#### Performance of Other Tesla Models
The reengineered Tesla Model 3 also exhibited robust performance in the Chinese market, with sales reaching 99,198 units from January to August 2024. This strong showing is likely influenced by the export demands placed on Giga Shanghai, Tesla’s manufacturing hub that supplies the revamped Model 3 globally.
#### Q3 2024 Momentum and Market Impact
Tesla China has demonstrated strong momentum in Q3 2024. The company’s new vehicle registrations have been notably high in recent weeks. For example, new registrations hit 16,200 in the week ending September 8, and 15,600 in the week ending September 15. Maintaining this trajectory could lead to an impressive Q3 2024 result for Tesla China.
#### The Bigger Picture
Tesla’s success is noteworthy given the company’s relatively limited product lineup, particularly in key markets like China and the United States. Recent data suggests the Model Y is approaching the status of the best-selling vehicle in the U.S. market as well, with a 2.8% market share through Q2, just behind the Toyota RAV4.
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William Kouch, Editor of Automotive.fyi
