Tesla China 12-weeks EV Sale Rate signals improved sales momentum

$Tesla (TSLA.US)$ $BYD COMPANY (01211.HK)$ $NIO Inc (NIO.US)$ $XPeng (XPEV.US)$ The article showed that Tesla China reported 15.5K vehicle sales for week 5-11 August, objectively a strong result. Here's the detailed analysis:
▫️This brings total 2024 China sales to 350K vehicles, just 5K behind 2023 at this point (Chart 1).
▫️For the gap to further reduce, next weeks needs only 13.9K sales.
▫️Tesla's trailing 12-weeks sales rate of 153.6K vehicles is 3K vehicles ahead of the same period last year, signalling improved sales momentum (Chart 2).
▫️For the trailing 12-weeks sales rate to increase further, next week's sales have to come in above 13.3K.
▫️After 6 weeks, 3Q total sales come in at 69.9K, which is 43% ahead of 48.9K after the first 6 weeks in 2Q. 
▫️3Q'24 quarter-to-date is approximately 42% ahead of 3Q'23!
Main drivers for Tesla's strong China sales:
1) China's recently increased purchase incentives.
2) Local sales campaigns including attractive financing deals.
3) Overall larger EV adoption compared to last year - increase in market share.