Industry dynamics

China EV insurance registrations for week ending Sept 15: Nio 4,200, Tesla 15,600, Xiaomi 3,100, BYD 86,000

Publishtime:1970-01-01 08:00:00 Views:22

Li Auto had 12,600 insurance registrations last week, Xpeng 4,300, Zeekr 4,700, Leapmotor 7,900 and Aito 9,600.

Major electric vehicle (EV) makers saw a mixed performance in insurance registrations in China last week.

For the week of September 9-15, Nio (NYSE: NIO) vehicles saw 4,200 insurance registrations in China, down 6.67 percent from 4,500 the week before, according to data shared today by Li Auto (NASDAQ: LI).

Li Auto stopped sharing weekly insurance enrollment numbers earlier this year, and after about a year of doing so. It resumed sharing those numbers in early May.

Insurance registrations are different from the deliveries figures published by car companies, although their monthly figures are usually not too far apart.

Nio's deliveries of 20,176 vehicles in August were the fourth consecutive month above the 20,000 mark, according to figures published on September 1. That was up 4.38 percent from 19,329 a year ago, but down 1.57 percent from 20,498 in July.

In the January-August period, Nio delivered 128,100 vehicles, up 35.77 percent year-on-year, according to data compiled by CnEVPost.

Nio guided for third-quarter vehicle deliveries to be in the record range of 61,000 to 63,000 vehicles, representing year-on-year growth of about 10 percent to 13.7 percent, when it reported second-quarter earnings on September 5.

The guidance means it expected September deliveries to be between 20,326 and 22,326 vehicles, considering it delivered 20,498, 20,176 vehicles in the past two months.

Li Auto had 12,600 insurance registrations last week, up 17.76 percent from 10,700 in the previous week.

The company delivered 48,122 vehicles in August, down 5.64 percent from 51,000 in July but up 37.83 percent from 34,914 a year ago.

So far this year, Li Auto has delivered 288,103 vehicles, up 38.4 percent.

Li Auto on August 28 guided third-quarter vehicle deliveries to be in the range of 145,000 to 155,000 units, representing growth of 38.0 percent to 47.5 percent.

The guidance means Li Auto was expecting to deliver a total of 94,000 to 104,000 vehicles in August and September, an average of about 50,000 per month.

Xpeng (NYSE: XPEV) had 4,300 insurance registrations last week, a new single-week high so far this year and a 19.44 percent increase from the previous week's 3,600.

The EV maker delivered 14,036 vehicles in August, the sixth consecutive month of sequential growth. This was up 26 percent from 11,145 in July and up 2.53 percent from 13,690 in the same month last year.

In the January-August period, Xpeng delivered 77,209 vehicles, up 16.75 percent year-on-year.

Xpeng on August 20 guided third-quarter vehicle deliveries in the range of 41,000 to 45,000 vehicles, up about 2.5 percent to 12.5 percent year-on-year.

Tesla (NASDAQ: TSLA) saw 15,600 insurance registrations in China last week, down 3.7 percent from 16,200 the week before.

Tesla China sold 86,697 vehicles in August, including 23,241 for export, according to the China Passenger Car Association (CPCA).

The US EV maker sold 63,456 vehicles in China in August, a new high for the year, which was down 1.91 percent from 64,694 a year earlier but up 37.27 percent from 46,227 in July.

In the January-August period, Tesla sold 388,000 vehicles in China, a decrease of 0.57 percent from a year earlier.

Tesla has a factory in Shanghai that produces the Model 3 sedan and Model Y crossover, both for deliveries to local customers and as an export hub for it.

BYD (HKG: 1211, OTCMKTS: BYDDY) had 86,000 insurance registrations last week, up 16.85 percent from 73,600 the week before.

The new energy vehicle (NEV) maker sold a record 373,083 NEVs in August, surpassing July's previous record of 342,383 units. This is a 35.97 percent increase year-on-year and an 8.97 percent increase from July.

In the January-August period, BYD sold 2,328,449 NEVs, up 29.92 percent year-on-year.

Xiaomi (HKG: 1810, OTCMKTS: XIACY) had 3,100 insurance registrations last week, down 3.13 percent from 3,200 the week before.

Xiaomi's first EV model, the SU7, delivered more than 10,000 units in August, the phone maker's EV unit, Xiaomi EV, announced on September 1.

As it has done for the past two months, Xiaomi EV did not release specific figures for SU7 monthly deliveries.

Zeekr (NYSE: ZK) had 4,700 insurance registrations last week, up 2.17 percent from 4,600 the week before.

The EV maker delivered 18,015 vehicles in August, its third highest ever. This is up 15 percent from 15,655 in July and 46.43 percent from 12,303 in the same month last year.

In the January-August period, Zeekr delivered 121,540 vehicles, up 81.47 percent year-on-year, and it's targeting 230,000 deliveries for the full year.

Leapmotor (HKG: 9863) had insurance registrations of 7,900 vehicles last week, up 25.4 percent from 6,300 the week before.

It delivered a record 30,305 vehicles in August, the first time since the company's inception that it has seen more than 30,000 deliveries in a single month. That's up 113.57 percent from 14,190 a year ago and 37.17 percent from 22,093 in July.

So far this year, Leapmotor has delivered 139,094 vehicles, an increase of 90.47 percent year-on-year.

Aito, the brand jointly created by Huawei and Seres Group, registered 9,600 vehicles for insurance last week, up 24.68 percent from 7,700 the week before.

Data table: China EV insurance registrations in Sept 9-15