Written by Cláudio Afonso | LinkedIn | X
Tesla’s insurance registrations stood at 7,450 vehicles between February 10 and 16, up from 6,220 in the previous week — data from the Chinese carmaker Li Auto showed on early Tuesday.
In the same week Tesla halted production of the older Model Y to ramp up the new version, the company registered 1,340 units of the SUV, while Model 3 sales climbed to 6,110 units, up from 2,360 the previous week.
Deliveries of the new Model Y are set to begin in late February, with Tesla’s China registrations—its largest market—expected to trail last year’s figures until SUV production ramps up.
Tesla Model 3 registrations surged by 6,100 units last week, a 158% increase from 2,100 units recorded between February 3 and 9. Meanwhile, its direct competitor, the Xiaomi SU7, saw a 56% jump to 6,900 units.
The SU7 began outselling Tesla’s Model 3 in mid-December and has maintained its lead ever since.
In January, and according to China Passenger Car Association data, Tesla sold 33,703 vehicles in China and exported 29,535 vehicles from its most productive Gigafactory.
Charles Schwab x Tesla
Schwab Asset Management, one of the largest ETF providers in the U.S., added nearly 800,000 Tesla shares in final quarter of the year, its recently released fourth-quarter 13F filing showed.
As of December 31, the investment management firm held over 17.32 million shares, valued at almost $7 billion, up from about 16.55 million in the previous quarter.
Currently, and according to Nasdaq’s website, Charles Schwab is among Tesla’s top 15 institutional shareholders.
Sales and Earnings
In 2024, Tesla reported a full-year net income of $8.4 billion, down 23% from 2023 and 40% from the record $14.1 billion profit in 2022. Full-year revenue hit a record of $97.7 billion.
In the U.S., registrations dropped 10% year over year in January, according to Motor Intelligence estimates released on Tuesday. The company registered 48,500 vehicles, down from the 53,830 recorded a year ago.
