Industry dynamics

China EV insurance registrations for week ending Oct 13: Nio 4,700, Tesla 8,500, Xiaomi 4,600, BYD 106,200

Publishtime:1970-01-01 08:00:00 Views:32

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Li Auto saw 13,400 insurance registrations last week, Xpeng 3,900, Zeekr 5,500, Leapmotor 8,700 and Aito 7,100.

Nio officially launched Onvo's first model, the L60, on September 19 and deliveries began on September 28.

The EV maker delivered 21,181 vehicles in September, the second highest on record behind June's record high of 21,209.

This is the fifth consecutive month that Nio as a group has delivered more than the 20,000 mark, including 20,349 for the main Nio brand and 832 for Onvo.

On October 11, Nio saw the milestone of its 600,000th vehicle delivery.

Li Auto had 13,400 insurance registrations last week, up 54.02 percent from 8,700 the week before.

It delivered a record 53,709 vehicles in September, surpassing the previous record of 51,000 in July.

That's up 48.94 percent year-on-year and up 11.61 percent from 48,122 in August.

Earlier today, Li Auto announced it saw its one millionth vehicle roll off the line, 58 months after its first vehicle rolled off the line in November 2019.

Delivery of its one millionth vehicle could still take several more days, given factors including logistics.

Xpeng (NYSE: XPEV) had 3,900 insurance registrations last week, up 39.29 percent from 2,800 the week before.

The EV maker delivered 21,352 vehicles in September, up 39.46 percent year-on-year and up 52.12 percent from August.

Xpeng's new model, the Mona M03, delivered more than 10,000 units in its first full delivery month, the company said on October 1, without disclosing specific figures.

Xpeng announced yesterday on the first day of the Paris auto show that the new flagship electric sedan, the P7+, begun pre-sales in China with a starting price of RMB 209,800 ($29,600).

Orders for the P7+ surpassed 30,000 units just 1 hour and 48 minutes after pre-sales began, the company announced last night.

Tesla (NASDAQ: TSLA) registered 8,500 insurance registrations in China last week, up 372.22 percent from 1,800 in the previous week.

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.

The US EV maker sold 72,200 vehicles in China in September, beating August's 63,456 to a year-to-date high, according to data released by the China Passenger Car Association (CPCA).

Retail sales of the Model Y in China in September were 48,202 units, the highest for a single month so far this year, while retail sales of the Model 3 in September were 23,998 units, the highest since September 2022, according to the China Passenger Car Association (CPCA).

Including 16,121 units exported, Tesla China sold 88,321 China-made vehicles in September.

BYD (HKG: 1211, OTCMKTS: BYDDY) had 106,200 insurance registrations last week, up 57.10 percent from 67,600 in the previous week.

The company sold a record 419,426 NEVs in September, its fourth consecutive record month.

That's up 45.91 percent from 287,454 a year ago and up 12.42 percent from 373,083 in August.

BYD retailed 386,749 NEVs in China in September, continuing to rank No. 1 in the domestic passenger NEV market with a 34.4 percent share, according to data released yesterday by the CPCA.

Xiaomi (HKG: 1810, OTCMKTS: XIACY) had 4,600 insurance registrations last week, up 21.05 percent from 3,800 the week before.

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

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

Xiaomi EV aims to produce and deliver more than 20,000 vehicles in October, it said on October 1.

Zeekr (NYSE: ZK) had insurance registrations of 5,500 vehicles last week, up 48.65 percent from 3,700 the week before.

The EV maker delivered 21,333 vehicles in September, surpassing June's previous record of 20,106 vehicles for a record high, and was the second month over the 20,000 mark.

This is up 76.99 percent year-on-year and 18.42 percent from August.

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

As of October 7, firm orders for the Zeekr 7X had topped 20,000 units, with deliveries expected to exceed 10,000 units in the first full delivery month, according to a previous statement shared with CnEVPost.

Earlier today, Zeekr said deliveries of the 7X topped 10,000 units, 25 days past the model's launch.

Leapmotor (HKG: 9863) had 8,700 insurance registrations last week, up 148.57 percent from 3,500 the week before.

It delivered 33,767 vehicles in September, marking the second consecutive month of more than 30,000 units and the fourth consecutive record month.

That's up 113.72 percent from 15,800 in the same month last year and 11.42 percent from 30,305 in August.

Leapmotor gave the B10 its debut yesterday at the Paris auto show and the compact SUV, the first globalized model of its new B platform, will go on sale next year.

Aito -- a brand jointly created by Huawei and Seres Group -- saw insurance registrations of 7,100 vehicles last week, up 54.35 percent from 4,600 the week before.

Data table: China EV insurance registrations in Oct 7-13