Industry dynamics

China EV insurance registrations for week ending Sept 22: Nio 3,700, Tesla 13,800, Xiaomi 2,900, BYD 80,600

Publishtime:1970-01-01 08:00:00 Views:21

Li Auto had 12,000 insurance registrations last week, Xpeng 3,500, Zeekr 3,800, Leapmotor 6,300 and Aito 7,300.

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.

Li Auto announced on September 19 that it saw its 100,000th Li L6 SUV (sport utility vehicle) delivery, five months after the model's launch.

Li Auto launched the Li L6 on April 18 and deliveries began on April 24. The five-seat SUV is Li Auto's least expensive model currently on sale.

Xpeng (NYSE: XPEV) had 3,500 insurance registrations last week, down 18.6 percent from 4,300 the week before.

The EV maker delivered 14,036 vehicles in August, the sixth consecutive month of sequential growth. That 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 to be in the range of 41,000 to 45,000 units, up about 2.5 percent to 12.5 percent year-on-year.

The EV maker saw its 500,000th production vehicle roll off the line on September 20, which was also the 10,000th Mona M03 vehicle.

Xpeng officially launched the Mona M03 electric sedan on August 27, its cheapest, at about half the price of Tesla's (NASDAQ: TSLA) Model 3.

Tesla had 13,800 insurance registrations in China last week, down 11.54 percent from 15,600 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 80,600 insurance registrations last week, down 6.28 percent from 86,000 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. That was 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.

BYD yesterday launched the Sealion 05 DM-i and the second-generation Song Pro DM-i, both hybrid models equipped with the latest DM 5.0 technology, with a starting price of RMB 112,800 ($15,980) for both.

Xiaomi (HKG: 1810, OTCMKTS: XIACY) had 2,900 insurance registrations last week, down 6.45 percent from 3,100 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 had done for the past two months, Xiaomi EV did not release specific figures for SU7 monthly deliveries.

Zeekr (NYSE: ZK) had 3,800 insurance registrations last week, down 19.15 percent from 4,700 the week before.

The EV maker delivered 18,015 vehicles in August, its third highest ever. That was up 15 percent from 15,655 in July and up 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. It is targeting 230,000 deliveries for the whole of this year.

Zeekr launched the Zeekr 7X electric SUV, its second model for the mainstream EV market, on September 20, with deliveries starting on September 21.

Leapmotor (HKG: 9863) had 6,300 insurance registrations last week, down 20.25 percent from 7,900 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 in the same month last year 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 -- a brand jointly created by Huawei and Seres Group -- saw insurance registrations of 7,300 vehicles last week, down 23.96 percent from 9,600 the week before.

Data table: China EV insurance registrations in Sept 16-22