Industry dynamics

China EV insurance registrations for week ending Aug 25: Nio 4,600, Tesla 14,200, Xiaomi 2,100, BYD 87,800

Publishtime:1970-01-01 08:00:00 Views:19

Li Auto had 11,600 insurance registrations last week, Xpeng 2,800, Zeekr 3,000, Leapmotor 6,200 and Aito 9,000.

Li Auto delivered a record 51,000 vehicles in July, the second time it has surpassed the 50,000 mark after 50,353 in December last year.

That's up 49.41 percent from 34,134 vehicles in the same month last year and up 6.75 percent from 47,774 vehicles in June.

Xpeng (NYSE: XPEV) saw 2,800 insurance registrations last week, up 21.74 percent from 2,300 the week before.

Xpeng delivered 11,145 vehicles in July, up 1.24 percent year-on-year and up 4.47 percent from June.

This was the fifth consecutive month-on-month increase in Xpeng's monthly deliveries, but still only about half of the more than 20,000 monthly deliveries in the fourth quarter of last year.

Xpeng will hold a launch event later today for the M03, the first model in its Mona lineup, which the company previously said would have a starting price of no more than RMB 135,900 yuan ($19,080).

Tesla (NASDAQ: TSLA) had 14,200 insurance registrations in China last week, down 0.7 percent from 14,300 the week before.

Tesla China sold 74,117 vehicles in July, including 27,890 exported and 46,227 sold in China, according to the China Passenger Car Association (CPCA).

BYD (HKG: 1211, OTCMKTS: BYDDY) had 87,800 insurance registrations last week, up 11.85 percent from 78,500 the week before.

The company sold a record 342,383 new energy vehicles (NEVs) in July, up 30.60 percent from 262,161 a year ago and up 0.21 percent from 341,658 in June.

Xiaomi (HKG: 1810, OTCMKTS: XIACY) registered 2,100 insurance registrations last week, down 19.23 percent from 2,600 the week before and the fourth consecutive week of decreases.

Xiaomi expects to meet its target of 100,000 cumulative deliveries of the Xiaomi SU7 -- its only current model -- in November, ahead of schedule, the company said in its second-quarter results report released on August 21.

Xiaomi will challenge a new target of delivering 120,000 vehicles for the full year 2024, it said.

Zeekr (NYSE: ZK) had 3,000 insurance registrations last week, down 14.29 percent from 3,500 the previous week.

Zeekr delivered 15,655 vehicles in July, up 30.04 percent from 12,039 a year ago but down 22.14 percent from 20,106 in June.

Leapmotor (HKG: 9863) had 6,200 insurance registrations last week, up 16.98 percent from 5,300 the week before.

Aito, the brand jointly created by Huawei and Seres Group, saw insurance registrations of 9,000 vehicles last week, up 60.71 percent from 5,600 the week before.

Aito delivered 41,535 vehicles in July, up 881.68 percent year-on-year but down 2.91 percent from June, according to data it released earlier this month.

($1 = RMB 7.1211)

Data table: China EV insurance registrations in Aug 19-25