Chinese electric vehicle company Nio's three models on sale - ES8, ES6, and EC6 - registered 19,844 insurance units in the first quarter, up 420 percent from the same period last year.

Insurance registrations are considered to be a more accurate reflection of the vehicles on the road than the data published by the car companies themselves.

Among the premium brands in the Chinese market, Nio ranked fourth with an average sales price of RMB 428,000 ($65,400) in the first quarter.

Nio announced earlier this month that it delivered 20,060 vehicles in the first quarter, up 422.7 percent year-on-year and 15.6 percent from the previous quarter.

This is the first time Nio has reached over 20,000 deliveries in a single quarter.

In March, Nio delivered a record 7,257 vehicles, up 373.4 percent year-on-year and 30.1 percent from February.

As of March 31, cumulative deliveries of ES8, ES6, and EC6 reached 95,701.

Nio's 100,000th mass-produced vehicle rolled off the production line at its manufacturing base in Hefei, Anhui Province on April 7, a blue ES8.

It took Nio 35 months to reach this milestone from May 27, 2018, when the first production vehicle, the Nio ES8, rolled off the production line, setting a record for the fastest premium SUV segment in its price range.

(Source: CnEVPost)