In China, Tesla Shines Among Premium Brands: Q1 2021 Data

Tesla Model Y tops the electric crossover/SUV segment by a high margin in March.

The beginning of the year 2021 in China was exceptionally successful for Tesla, which notes record sales results for the Made-in-China Model 3 and Model Y.

According to the China Automotive Technology and Research Center (CATARC), via Moneyball, the number of 69,631 new Tesla cars insured in the first quarter is one of the highest among premium brands.

The first three brands are still quite far away, but at this point, Tesla is the best of the rest in terms of volume.

Number of new cars insured in Q1 2021 and average price:

  1. Mercedes-Benz – 222,513, average – 434,200 RMB
  2. BMW – 221,809, average – 400,900 RMB
  3. Audi – 197,005, average – 328,3,000 RMB
  4. Tesla – 69,631, average – 276,000 RMB
  5. Lexus – 60,571, average – 393,700 RMB
  6. Cadillac – 58,655, average – 269,300 RMB
  7. Hongqi – 54,115, average – 214,200 RMB
  8. Volvo – 43,652, average – 324,100 RMB
  9. Range Rover – 21,171, average – 593,700 RMB
  10. Porsche – 20,777, average – 789,400 RMB
  11. NIO – 19,844, average – 428,000 RMB
  12. Lincoln – 19,520, average – 375,300 RMB
  13. MINI – 8,079, average – 263,700 RMB
  14. Jaguar – 7,042, average – 286,800 RMB
  15. Infiniti – 4,926, average – 268,500 RMB

However, if we will compare the brands by the average price, Tesla is one of the most affordable on the list, at 276,000 RMB ($42,175). NIO is 55% higher at 428,000 RMB ($65,400).

Because of that, the total Tesla revenues might be still behind many other brands.

Tesla Model Y in March

The insurance data from CATARC reveals us also that the Tesla Model Y – thanks to its new record sales in March – is the top electric crossover/SUV in China.

Moreover, we can see a few interesting results like BMW iX3 (1,526) way above Mercedes-Benz EQC (557) or newly launched Volkswagen ID.4X (495):

  1. Tesla Model Y – 10,140
  2. NIO ES6 – 2,960
  3. NIO EC6 – 2,484
  4. Xpeng G3 – 1,955
  5. Weima EX5 – 1,746
  6. BMW iX3 – 1,526
  7. NIO ES8 – 1,467
  8. GAC Aion V – 1,052
  9. Geely Geometry C – 959
  10. Honda Everus VE1 – 748
  11. BYD Yuan – 650
  12. Mercedes-Benz EQC – 557
  13. Volkswagen ID.4X – 495
  14. SAIC Roewe Marvel R – 434
  15. BYD Tang – 431

The “Q1” in the table is probably wrong (should be “March”, we guess):

Source: Read Full Article