Beijing (Gasgoo)- In July, insurance registrations of China-made Tesla vehicles slumped 68.44% month over month to 8,998 vehicles in China mainland, according to data from China Banking and Insurance Regulatory Commission (CBIRC). Compared with the same month of last year, locally-made Tesla-branded vehicles’ monthly registrations in July fell by 21.43%.
For the first seven months of this year, the registration volume of locally-made Tesla vehicles surged 143% from a year ago to 140,759 vehicles, including 91,792 Model 3s and 48,967 Model Ys.
In July, 7,690 individuals bought insurances for Tesla vehicles while another 1,303 new Tesla vehicles were registered by companies or institutes. Only 5 vehicles were for renting. For the first seven months of this year, the registrations by individuals amounted to 120,985, accounting for 86% of its total year-to-date registrations.
Shanghai registered the most locally-made Tesla vehicles in July, accounting for 17% of the American brand’s monthly registrations. In July, Shanghai registered 1,081 Model 3s and 446 Model Ys respectively.
Shenzhen ranked second by monthly registrations of locally-made Tesla vehicles, with 764 Tesla vehicles registered, only half of the volume of Shanghai. Beijing and Hangzhou followed with monthly registration reaching to 700 and 521 vehicles respectively.
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