Correction: Tesla's retail sales in China in November were 62,493 units, not 52,424 units as mentioned in the previous chart and in the text section.
For Nio, Li Auto, and Xpeng, the monthly insurance registration numbers are not too far off from the delivery numbers.
Weekly insurance registration numbers are usually highly watched before major Chinese electric vehicle (EV) makers' monthly sales are released.
However, due to their different statistical methods, there is often a gap between these two figures.
So, how do insurance registrations compare to deliveries in the Chinese EV industry? To what extent do these two actually match? The latest figures provide some reference.
In November, insurance registrations for new energy vehicles (NEVs) in China stood at 535,000 units, according to data shared today by automotive industry consultancy Land Roads.
For comparison, China Passenger Car Association (CPCA) data released earlier this month showed that retail sales of new energy passenger vehicles in China were 598,000 units in November.
BYD's (OTCMKTS: BYDDY) NEVs had 176,189 insurance registrations in November, according to Land Roads. The biggest NEV maker posted sales of 230,427 units for the month.
Tesla (NASDAQ: TSLA) vehicles had 62,070 insurance registrations in China in November. The US EV maker had retail sales of 62,493 vehicles in China in November, according to the CPCA.
Nio (NYSE: NIO) vehicles had 14,153 insurance registrations in November, roughly the same as the 14,178 deliveries it announced earlier this month.
Li Auto (NASDAQ: LI) vehicles had 15,587 insurance registrations in November, according to Land Roads, which was slightly higher than the 15,034 deliveries the company announced.
Xpeng (NYSE: XPEV) vehicles had 5,814 insurance registrations in November, roughly the same as its announced 5,811 deliveries.
Zeekr vehicles had 10,886 insurance registrations in November, slightly below its announced 11,011 deliveries.
The figures for Huawei-backed AITO were 11,065 and 8,260, respectively. The figures for Neta were 15,885 and 15,072, respectively.
Leapmotor vehicles had 8,844 insurance registrations in November, higher than the deliveries of 8,047 it reported.
These comparisons mean that for most vehicle companies, the monthly insurance registration figures are not too far off from deliveries.
For some companies, however, there is a relatively large gap between the two numbers due to the presence of dealers or because of differences in when consumers actually get deliveries and when car companies confirm the sales numbers.
Later today, insurance figures for the second week of December are expected to be available.
Between November 28 and December 4, insurance registrations for NEVs in China were 129,000, up 36.7 percent year-on-year and up 5 percent from the previous week.
Nio was at 3,141 units that week, Li Auto at 4,228 units and Xpeng at 1,962 units.
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