Tesla Stores in Shanghai Continue to Flood with New Buyers Day & Night After New Policy Implemented

In 2020, Tesla Model 3 was the best-selling brand among New Energy Vehicles (NEVs), including hybrids in Shanghai. Tesmanian recently reported that demand has been spiking with the recent price adjustment to the China-made Model 3, and stores have been packed with customers trying to get their hands on the more affordable model. And now, this demand surge continues as new regulations are going into effect in Shanghai, adding to the overflow of new customers in the company's stores there. 

On October 24, the Shanghai Police issued a notice regarding expanded restrictions on vehicles bearing non-Shanghai plates, aimed at easing traffic congestion in Shanghai. According to the Notice, Vehicles bearing non-Shanghai plates will not be allowed to use many of the elevated roads in urban parts of Shanghai between 7:00 am and 8:00 pm on workdays, starting from November 2, 2020.

The Notice also applies to Vehicles with temporary plates, taxis without passengers, as well as cars driven by drivers under apprenticeship. If the provisions of the Notice are breached, penalties will be imposed in accordance with relevant laws and regulations.

In this regard, the residents of Shanghai seek to acquire and register new transport vehicles. The best choice at the moment are electric cars, especially Tesla. In this regard, the company's stores in Shanghai have experienced an influx of customers seeking to buy a car at the best price as soon as possible. Photos from @ray4tesla/Twitter show that Tesla stores are flooded with customers during the day and night.

One study estimates this new policy may potentially create an addressable market for 130k MIC Model 3s in the near term in Shanghai. Currently there’re 1.7 million non-Shanghai registered vehicles operating in the city.

— Ray4️⃣Tesla⚡️🚘☀️🔋 (@ray4tesla) October 28, 2020

@ray4tesla also points out that there are currently around 1.7 million non-Shanghai registered vehicles in Shanghai, which could drive huge demand for the made-in-Giga Shanghai Model 3.

According to the data, Shanghai is already the largest market for Tesla in China, and its potential has yet to be fully tapped. Between January and September, 16,087 Model 3s were sold there, making it the best-selling vehicle among all EVs and gas-powered cars. This number of models sold in just one city of the world speaks volumes.

© 2020, Eva Fox. All rights reserved.

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Article edited by @SmokeyShorts, you can follow him on Twitter

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