Tesla (TSLA) rises on deliveries in China, but can it save its Q3?
Tesla’s stock (TSLA) is up this morning on delivery data from China showing a strong end-of-quarter performance, but is this enough to save its Q3?
Insurance registration data in China shows that Tesla delivered 15,600 vehicles in the country last week, down 3.7% from the prior week, which had a strong performance with 16,200 registrations.
This is a strong start for September, with 31,800 registrations. That only accounts for Tesla’s vehicles built at Gigafactory Shanghai and sold domestically—though that’s generally most of its Shanghai production at the end of quarters to limit vehicles in transit.
Tesla tends to end quarters strong with a push in deliveries over the last few weeks.
According to the China Passenger Car Association (CPCA), Tesla China delivered 86,697 electric vehicles made in China in August and just over 74,000 vehicles in July.
Tesla is on pace to deliver over 230,000 electric vehicles in and from China in Q3.
Is China going to save Tesla’s Q3?
Tesla introduced 0% financing in China this year in order to boost demand in its most important market and it is clearly working.
However, other markets are not doing as well.
According to registration data, Tesla’s deliveries in Europe are way down this year:
Tesla is down more than 70,000 vehicles in its biggest EU markets compared to last year. The difference is more significant by 10,000 units since we last checked in August.
Electrek’s Take
It looks like China is going to be able to compensate for some of Tesla’s troubles in the EU, but not all of it.
The difference maker in Q3 could end up being the US market, where Tesla has been having its own issues, but it recently introduced strong incentives to try to boost sales.
The new referral program basically results in a $1,000 discounts on all cars except Cybertruck. Speaking of Cybertruck, it’s not a high volume program, but the recent ramp-up in production does point to it contributing a few tens of thousands of units to Tesla’s total deliveries in Q3.
Finally, Tesla recently introduced new financing incentives in the US that are likely going to be impactful at the end of the quarter.
At this point, I think Tesla is likely going to beat deliveries from last quarter, 443,956 units, which would actually mean a return to year-over-year growth for Tesla since it delivered 435,000 units during the same period in 2023.
However, I believe that Tesla will be far short of the 585,000 vehicles it needs to be deliver in order to be on pace for its original goal of 2 million deliveries in 2024. It might even be short of the 485,000 vehicles it needs to be on pace so as not to be down year-over-year in deliveries for the whole year.
What do you think? Let us know in the comment section below.
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The Mockingbird Solar Center, Ørsted’s largest solar project globally, is now online, next to protected prairie donated by the renewable energy giant.
This massive 468-megawatt (MW) solar farm is set to power 80,000 homes and businesses, providing a major boost to the Texas grid.
But the launch of Mockingbird Solar isn’t just about clean energy – it’s also about restoring precious ecosystems. Ørsted has donated 953 acres of the Smiley-Woodfin Native Prairie Grassland, which sits next to the solar center, to The Nature Conservancy. The donated land is now the Smiley Meadow Preserve, a protected area for tallgrass prairie that’s home to more than 400 species of grasses and wildflowers.
Tallgrass prairies are some of the rarest ecosystems in the US, with less than 1% of Texas’ original tallgrass prairies still in existence. Tallgrass prairie does a lot of heavy lifting for the environment, including storing carbon, preventing floods, and providing crucial habitats for pollinators.
“Native prairies are the rarest landscapes left in Texas – so much so that many people have never seen one,” said David Bezanson, land protection strategy program director for The Nature Conservancy in Texas. He added that preserving Smiley Meadow will not only conserve one of the best prairie remnants left but also help restore other prairie habitats and boost regional biodiversity.
The Mockingbird Solar Center, a half-billion-dollar project, is part of Ørsted’s $20 billion push to expand renewable energy production across the US. Beyond generating electricity, it will inject $75 million into local property taxes, benefiting schools and other public services. The project also created over 550 construction jobs and will continue to be supported by operations staff moving forward.
Ørsted worked with US companies, including First Solar, for solar panels and partnered with local businesses like Drake Construction and Pfifer Farms for construction materials. It also gave more than $50,000 to local volunteer fire departments in Roxton and Brookston.
With Mockingbird Solar now up and running, Ørsted has more than 6 gigawatts of onshore wind, solar, and battery storage projects either in operation or being built across the US.
Read more: Ørsted got a huge Tesla battery storage system for the world’s single-largest offshore wind farm
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Jeep’s first global luxury electric SUV will arrive at US dealerships any day. Despite its $72,000 price tag, lease prices for the 2024 Jeep Wagoneer S EV start at just $599 per month.
2024 Jeep Wagoneer S EV lease prices
After unveiling its first global electric SUV, Jeep’s CEO said the Wagoneer S “marks a new chapter” in its storied history.
Jeep claims the Wagoneer S packs “exhilarating performance.” With 600 hp and 617 lb-ft of torque, the big-body SUV can sprint from 0 to 60 mph in just 3.4 seconds. Its 100 kWh battery pack also gives it a driving range of over 300 miles.
The electric SUV is unmistakably still a Jeep, but it did get several upgrades to distinguish it as an EV. The grille is now enclosed without the need to cool a massive engine, giving it a sporty, more modern look.
Jeep revamped its design with a new illuminated seven-slot grille with ambient cast lightning. It also fine-tuned its profile, adding flush door handles, a rear wing, and integrated fins for better airflow.
The first Jeep Wagoneer S Launch Edition models get exclusive dark accent design elements like 20″ Gloss Black Wheels.
Inside, the electric SUV is loaded with the latest tech and connectivity, including a best-in-class 45″ of usable screen space. The setup includes a 12.3″ center screen and an exclusive 10.25″ interactive front passenger screen.
Jeep already announced that the 2024 Wagoneer S EV will start at $71,995, but now the company has revealed lease prices for the first time.
According to Jeep, the 2024 Jeep Wagoneer S Launch Edition can be leased for $599 per month for 36 months (10,000 miles per year). The deal includes $4,999 due at signing and a $7,500 EV incentive. However, you may want to act fast, as Jeep’s offer is only good until December 2, 2024.
| Jeep Wagoneer S vs Tesla Model Y | Starting Price | Range | Lease Price |
| Jeep Wagoneer S Launch Edition | $71,995 | +300 miles | $599/mo |
| Tesla Model Y RWD | $44,990 | 320 miles | $299/mo |
| Tesla Model Y AWD | $47,990 | 308 miles | $399/mo |
| Tesla Model Y AWD Performance | $51,490 | 279 miles | $599/mo |
In comparison, Tesla Model Y RWD lease prices start at $299 for 36 months with $2,999 down (10,000 miles). The Performance AWD model starts at $599 per month. In an end-of-year promo, Tesla also offers 3 months of free Supercharging and Full Self-Driving.
Ready to drive off in your new electric SUV? We can help you get started. You can use our links below to view offers on the Jeep Wagoneer S and Tesla Model Y at a dealer near you.
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