Industry dynamics

China EV insurance registrations for week ending Dec 24: Nio 4,100, Xpeng 3,900, Li Auto 12,100, Tesla 18,500

Publishtime:1970-01-01 08:00:00 Views:27

Between December 1 and December 24, Nio was at 12,000 units, Xpeng at 12,500, Li Auto at 36,400, Tesla at 60,200 and BYD at 180,000 units.

The Li L7 had 4,900 insurance registrations last week, the Li L8 3,800, and the Li L9 3,400, according to Li Auto.

Between December 1 and December 24, insurance registrations for Li Auto vehicles were 36,400 units. The company will challenge the 50,000 monthly sales target this month, it said.

Li Auto delivered a record 41,030 vehicles in November. The company guided for fourth-quarter vehicle deliveries to be in the range of 125,000 to 128,000 vehicles when it reported third-quarter earnings on November 9.

Li Auto announced on the first day of the Chengdu auto show on August 25 that its first battery electric vehicle (BEV) model, the Li Mega, would be launched in December. However, the company has not yet announced a launch date, meaning the model has been delayed.

Nio (NYSE: NIO) vehicles registered 4,100 insurance registrations in China last week, up 20.59 percent from 3,400 the week before.

Between December 1 and December 24, a total of 12,000 Nio vehicles were registered for insurance in China.

Nio delivered 15,959 vehicles in November, largely flat from 16,074 in October.

Nio earlier this month guided for fourth-quarter vehicle deliveries in the range of 47,000 to 49,000, meaning it expected to deliver between 14,967 and 16,967 vehicles in December.

The company unveiled its executive flagship sedan, the ET9, at the Nio Day 2023 event on December 23 and began pre-sales of the model at a price of RMB 800,000 ($112,150), but deliveries won't begin until the first quarter of 2025.

Nio also unveiled its fourth-generation battery swap station as well as its new 640-kW supercharger at the event, and said it aims to add 1,000 battery swap stations and 20,000 charging piles in 2024 in China.

On December 22, Nio announced it achieved its goal of adding 1,000 battery swap stations in 2023.

Xpeng (NYSE: XPEV) came in at 3,900 units last week, down 18.75 percent from 4,800 units the week before.

Between December 1 and December 24, Xpeng had 12,500 vehicle insurance registrations.

The company delivered a record 20,041 vehicles in November, its second consecutive month of more than 20,000 units.

Xpeng guided for fourth-quarter deliveries of between 59,500 and 63,500 vehicles in its third-quarter earnings report released on November 15.

Xpeng will officially launch its first MPV (Multi-Purpose Vehicle) model, the X9, on January 1, with deliveries also beginning in January.

Xpeng is planning to discontinue the G3 line of SUVs, including the G3 and G3i. The lineup is Xpeng's oldest model and its least expensive.

Tesla (NASDAQ: TSLA) registered 18,500 insurance registrations in China last week, up 1.09 percent from 18,300 in the previous week.

Between December 1 and December 24, a total of 60,200 Tesla vehicles were registered for insurance in China.

Tesla sold 82,432 China-made vehicles in November, including 65,504 sold in China and 16,928 exported, according to data released earlier this month by the China Passenger Car Association (CPCA).

Insurance registrations for BYD (OTCMKTS: BYDDY) vehicles in China totaled 63,900 last week, up 23.60 percent from 51,700 the week before.

Between December 1 and December 24, that figure for BYD was 180,000 vehicles.

BYD sold 301,903 NEVs in November, up 31.02 percent from a year earlier and essentially flat from October's 301,833 units, according to data it released on December 1.

BYD's premium brand Denza was at 2,300 units last week, down 17.86 percent from 2,800 units the week before.

Zeekr was at 2,800 units last week, up 27.27 percent from 2,200 units the week before.

Leapmotor was at 4,200 units last week, up 5 percent from 4,000 units the week before.

Neta's figures for last week are not available as it failed to enter any of the rankings published by Li Auto. It stood at 2,600 units the week before.

Data table: China EV weekly insurance registrations