From January 2 to January 8, China NEV insurance registrations were 77,000 units, down from 163,700 units the previous week.
In the 1st week of this month from January 2 to January 8, China's new energy vehicle (NEV) sales, measured by insurance registrations, were 77,000 units, up 23.9 percent year-on-year but down from 163,700 units the week before, according to figures shared by auto blogger Zhu Yulong on Weibo today.
Sales of all passenger cars in China were 290,000 units in the week, down 37.7 percent year-on-year and down from 652,600 units the week before.
Among them, sales of conventional internal combustion engine vehicles were 214,000 units in the week, down 47 percent year-on-year and down from 488,800 units in the previous week.
BYD (OTCMKTS: BYDDY) remained the highest at 35,924 units for the week, but down from 55,706 units the week before.
Tesla (NASDAQ: TSLA) vehicles had just 2,110 insurance registrations for the week. The number was 4,338 and 8,915 in the previous two weeks, respectively.
Tesla lowered the prices of its entire Model 3 and Model Y lineup in China on Friday, January 6, its second price cut in China in three months.
The entry-level, rear-wheel drive Model 3's latest starting price is RMB 229,900 ($33,430), down RMB 36,000 from the previous RMB 265,900. This is the lowest starting price ever for a Model 3 in China, even below the January 2021 starting price of RMB 249,900.
The entry-level, rear-wheel drive Model Y has an updated starting price of RMB 259,900, down RMB 29,000 from the previous RMB 288,900.
Tesla's move is seen as a reaction to the slump in demand it is facing in China, and the latest insurance registration numbers seem to indicate that.
Nio (NYSE: NIO) vehicles had 2,818 insurance registrations for the week, down from 3,975 the previous week.
The Nio ET5 figure for the week was 1,794 units, ES7 436 units, ES6 263 units, ET7 205 units, ES8 64 units, and EC6 56 units.
Li Auto (NASDAQ: LI) had 3,704 units for the week, down from 7,566 the week before.
Li Auto sold just 10 units in Shanghai last week, and the city's plug-in hybrid (PHEV) models sold 657 units last week, down 50 percent from the first week of December, according to the blogger.
Shanghai no longer offers free NEV license plates for PHEVs starting in 2023, while pure electric models will still be eligible for free plates.
Xpeng (NYSE: XPEV) had 1,551 units for the week, down from 2,774 the week before. Xpeng G9 was 838 units, P7 249 units, P5 322 units, and G3 series 142 units.
Geely's premium electric vehicle brand Zeekr had a figure of 1,511 units for the week, down from 2,444 units the week before.
Zeekr's plant will stop production for 22 days from January 11 to February 1 to upgrade its production lines around the Chinese New Year holiday, which will have an impact on deliveries.
Neta, Hozon Auto's electric vehicle brand, posted numbers of 238 units last week, well below the previous week's 4,659 units.
Leapmotor was at 80 units for the week, also well below the 3,803 units the week before.
To view past weekly insurance registration data, please click here.
China NEV insurance registrations in 5th week of Dec: BYD 55,706, Tesla 4,338, Nio 3,975
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