Industry dynamics

China NEV insurance registrations for week ending Jul 2: Tesla 17,400, Li Auto 6,500, Nio 4,100

Publishtime:2019/08/16 Views:15

Li Auto saw a 13.33 percent decrease in sales last week compared to the previous week, while Nio saw a 28.13 percent increase.

On June 16, Tesla announced an insurance subsidy of RMB 8,000 ($1,110) for Chinese customers who purchase a rear-wheel drive version of the Model 3 already produced and complete delivery by June 30.

The wait times for all three available versions of the Model Y in China became slightly longer on June 30.

The top-selling premium brands in China last week continued to be German luxury brands BMW, Audi and Mercedes-Benz with 20,800, 20,500 and 19,600 respectively.

Li Auto was No. 6 in premium brand sales, behind Cadillac. Nio was No. 9, behind Volvo and Lexus.

Xpeng (NYSE: XPEV) sold 2,700 units last week, up 3.85 percent from 2,600 the previous week.

Xpeng delivered 8,620 vehicles in June, up 14.84 percent from May and its fifth consecutive month of growth, despite a 43.64 percent decline from a year ago.

The company delivered 23,205 vehicles in the second quarter, above the upper limit of its previous guidance of 21,000 to 22,000 vehicles.

In the first half of the year, Xpeng delivered 41,435 vehicles, down 39.93 percent from 68,983 vehicles in the same period last year.

Xpeng launched its new SUV, the G6, in China on June 29, and deliveries will begin in July.

Leapmotor sold 3,400 units last week, Neta 3,200 and Zeekr 3,100.

($1 = RMB 7.2181)

Data table: China NEV weekly insurance registrations