Major EV makers saw insurance registrations in China generally decline last week, as the beginning of the month usually sees lower numbers, with Tesla being one of the few to grow.
Insurance registrations in China for the major electric vehicle (EV) makers generally slipped last week, as the beginning of the month usually sees lower numbers.
For the week of July 31 to August 6, Li Auto sold 7,200 units, continuing to top the list of China's new car makers, the company said today on Weibo.
As before, Li Auto didn't explain on what basis that weekly sales were tallied, but apparently, they were insurance registrations. The company had suspended sharing those numbers in May, but has since resumed sharing them.
In the luxury brands ranking, Li Auto came in fifth, the highest-ranking Chinese brand on the list, it said.
Deliveries of the Li L9 Pro, which went on sale on August 3, began yesterday, the company added.
Li Auto's current range of models are all extended-range electric vehicles (EREVs), including the five-seat Li L7 and the six-seat Li L8 and Li L9.
The Li L9, Li Auto's flagship model, was only offered in one version, the Li L9 Max, when it was launched on June 21, 2022, and on August 3, Li Auto launched the Li L9 Pro, with a starting price of RMB 429,800, which is RMB 30,000 ($4,200) lower than the Li L9 Max.
Li Auto's sales last week were down 8.86 percent from the previous week's 7,900 units. Li Xiang, the company's founder, chairman and CEO, said on August 1 that production capacity is the only bottleneck the company is currently facing, and that it has no solution this quarter.
Insurance registrations for Nio (NYSE: NIO) vehicles in China last week amounted to 4,300 units, down 20.37 percent from 5,400 units the week before.
Nio's weekly sales figures have been improving since the launch of the new ES6 at the end of May and the subsequent launch of deliveries of the ET5 Touring and the new ES8.
In July, Nio delivered a record 20,462 vehicles, the first time since its inception that it has seen deliveries exceed the 20,000-unit mark, according to figures it announced on August 1.
Deliveries of the new ES6 have grown steadily since its launch in late May 2023, with monthly sales topping 10,000 units in July, Nio said on August 1.
Insurance registrations for Xpeng (NYSE: XPEV) vehicles in China last week amounted to 3,100 units, down 18.42 percent from 3,800 units the week before.
Xpeng officially launched the G6 in China on June 29, with its first deliveries beginning on July 10.
With that G6 contributing more sales, Xpeng's deliveries in July reached 11,008 vehicles, up 27.70 percent from 8,620 in June, its sixth sequential increase in monthly deliveries.
Deliveries of the G6 exceeded 3,900 units in July, and the model's strong sales momentum drove a surge in showroom visits, which in turn increased customer enthusiasm for other Xpeng models and the advanced smart technologies they come equipped with, the company said on August 1.
Despite the good initial acceptance of the G6, Xpeng still faces the challenge of ramping up production capacity. Customers who order the Pro version of the G6 currently have to wait about seven weeks for delivery, and 12 weeks for the more expensive Max version, CnEVPost's latest check shows.
BYD (OTCMKTS: BYDDY) vehicles saw 44,300 insurance registrations in China last week, down 8.47 percent from 48,400 the week before.
BYD sold a record 262,161 new energy vehicles (NEVs) in July, bringing its January-July total to more than 1.5 million vehicles and half its target for the year.
The Chinese NEV giant expects to see its 5 millionth NEV roll off the assembly line on August 9.
Tesla (NASDAQ: TSLA) was one of the few major EV makers to see an uptick in insurance registrations in China last week with 12,800 units, up 20.75 percent from 10,600 the week before.
Tesla sold 64,285 China-made vehicles in July, including those exported as well as those delivered in China, data released on August 3 by the China Passenger Car Association (CPCA) showed.
That's down 31.38 percent from 93,680 units in June and the lowest so far this year, despite a 127.82 percent increase from 28,217 a year earlier.
In China, Tesla has a factory in Shanghai that produces the Model 3 and Model Y. It's the largest Tesla factory in the world, with an annual capacity of about 1.1 million units a year, and supplies both local customers and serves as an export center.
Leapmotor was at 2,800 units last week, down 15.15 percent from 3,300 units the previous week. Neta was at 2,300 units last week, up 4.55 percent from 2,200 units the previous week.
Zeekr was at 2,500 units last week, down 13.79 percent from 2,900 units in the previous week. BYD's premium brand Denza was at 2,400 units last week, down 4 percent from 2,500 units in the previous week.
