Tesla China's Weekly Insurance Registrations Hit Highest Since Start Of 2024: Bull Gary Black Terms It 'Excellent'
Portfolio Pulse from Anan Ashraf
Tesla's weekly insurance registrations in China hit 17,400 units for the week ended June 23, marking the highest weekly registrations for the year. This is a 48.7% increase from the previous week. Analyst Gary Black termed the numbers as 'excellent,' noting that the second quarter is still trailing last year's corresponding period by 7.2% year-on-year but is up 14% quarter-on-quarter.
June 25, 2024 | 9:52 am
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Tesla's insurance registrations in China reached 17,400 units for the week ended June 23, the highest weekly figure this year. This indicates a strong sales momentum in its second-largest market. Analyst Gary Black praised the numbers, although the second quarter still trails last year's corresponding period by 7.2% YoY but is up 14% QoQ.
The significant increase in weekly insurance registrations suggests strong sales momentum for Tesla in China, which is crucial for its overall performance. The positive commentary from analyst Gary Black further supports a bullish outlook in the short term.
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