<div id="readability-page-1"><div><div><p><strong>Tesla Inc.</strong> <span>TSLA</span> reported the best week of the quarter so far in the Chinese domestic market amid Elon Musk’s $1 billion stock purchase.</p><p><em>Check out the current price of TSLA stock here.</em></p><h2>Tesla Sales Grow In China</h2><p>The company recorded 15.4K new insured registrations in the Chinese market, up 7.3% compared to last week and 34.4% against the previous quarter, according to data shared by influencer <strong>Roland Pircher</strong> on X on Tuesday. </p><p>The data translates to Tesla's best week of the quarter so far, but sales are still down 11% YoY and down over 7% when compared to YTD sales during the same period in 2024.</p><h2>Tesla's China Sales Driven By Model Y L</h2><p>The figures come as Tesla's sales in China are growing, with the company reporting over 14.3K new registrations in the region, which saw sales grow 41% over the previous quarter. However, Tesla's YoY sales were still down 12.1%</p><p>Meanwhile, Tesla's six-seater Model Y L SUV racked up over 120,000 orders since its launch in the market, averaging 10,000 orders daily and is proving to be a successful product for the company.</p><p>Tesla also slashed the price of its Model 3 Long Range sedan by 3.7% in the Chinese domestic market. The Model 3 Long Range, which was reportedly going to be the Model 3+, offers a range of over 500 miles on a single charge and retails for over $36,000 in China.</p><h2>Tesla Market Share Dwindles In The U.S.</h2><p>Elsewhere, Tesla's market share in the U.S. fell below 40% for the first time in almost eight years since October 2017, currently standing at 38%, according to the latest data compiled by experts.</p><p>Tesla also reportedly discontinued the most affordable variant of the Cybertruck, which was the $69,990 rear-wheel drive long-range variant offering 362 miles of range. The Cybertruck only has two trim levels on offer currently.</p><p>Tesla scores well on Momentum and Growth metrics, while offering satisfactory Quality, but poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!</p><p><em>Check out more of Benzinga's Future Of Mobility coverage by</em><em> following this link</em><em>.</em></p><ul> <li>Ross Gerber Takes Aim At Elon Musk, Urges Tesla CEO To Buy 12% More Equity ‘Instead Of Taking It From Shareholders’</li> </ul><p><em>Photo courtesy: VTT Studio / Shutterstock.com</em></p></div></div></div>

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<p>Tesla Inc. reported its best week of the quarter in China with 15.4K new insured registrations, a 7.3% increase from last week and 34.4% from the previous quarter. Despite this growth, sales are down 11% year-over-year. The Model Y L SUV has received over 120,000 orders since launch. In the U.S., Tesla's market share has fallen below 40% for the first time since 2017, and the company has discontinued the most affordable Cybertruck variant. Tesla's stock performance is influenced by Elon Musk's recent $1 billion purchase.</p>

- Tesla Inc. reported a significant increase in new insured registrations in China, with 15.4K registrations, marking a 7.3% rise from last week and a 34.4% increase from the previous quarter.  
- Despite this growth, Tesla's year-over-year sales in China are down 11%, and its U.S. market share has fallen below 40% for the first time since 2017.  
- The company has also reduced the price of its Model 3 Long Range sedan by 3.7% in China, while the Model Y L SUV has received over 120,000 orders since its launch.  

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Tesla Reports Best Week Of The Quarter After Securing 15.4K New Insured Registrations In China