Most EV makers saw a dip in insurance registrations last week, as it was the beginning of the month, when deliveries are usually slow, while the week before included the last days of August, when deliveries are usually strong.
Insurance registrations in China for major electric vehicle (EV) makers were mostly down last week, as deliveries are usually slow at the start of the month.
For the week of September 4 to September 10, Li Auto (NASDAQ: LI) had record weekly sales of 8,500 vehicles, placing it among the top 3 new energy vehicle (NEV) brands in the Chinese market, the company said today on Weibo.
As before, Li Auto didn't explain the basis for calculating the weekly sales, but apparently, they were insurance registrations. The company suspended sharing those numbers in May, but has since resumed sharing them.
Insurance registrations for Li Auto vehicles were up 14.86 percent last week compared to 7,400 the week before.
Li Auto currently sells the five-seat Li L7 and the six-seat Li L8 and Li L9, all of which are extended-range electric vehicles (EREVs), essentially plug-in hybrids.
The company was one of the few of major EV makers to see an increase in insurance registrations last week, probably because of its increased plant capacity.
Between September 1 and September 10, a total of 11,100 Li Auto vehicles were registered for insurance in China, according to figures it shared.
Li Auto had previously guided for vehicle deliveries to be in the range of 100,000 to 103,000 units in the third quarter. Considering it delivered a total of 69,048 vehicles in July and August, the company is expected to deliver between 30,952 and 33,952 vehicles in September.
Nio (NYSE: NIO) vehicles saw 3,800 insurance registrations in China last week, down 24 percent from 5,000 in the previous week -- August 28 to September 3, according to figures Li Auto shared.
The first week of September contains the last four days of August, and while car companies typically see an upward pulse in deliveries towards the end of the month, deliveries tend to slow down at the beginning of the next month.
Between September 1 and September 10, a total of 6,000 Nio vehicles were registered for insurance in China.
Nio had previously guided for 55,000 to 57,000 deliveries in the third quarter, implying that it is expected to deliver 15,209 to 17,209 vehicles in September, considering that it delivered 20,462 in July and 19,329 in August.
Xpeng (NYSE: XPEV) was 2,500 last week, down 19.35 percent from 3,100 the week before.
Between September 1 and September 10, a total of 3,300 Xpeng vehicles were registered for insurance in China.
Xpeng delivered 11,008 and 13,690 vehicles in July and August respectively. The company had previously guided for deliveries of between 39,000 and 41,000 vehicles in the third quarter, implying that it was on track to deliver between 14,302 and 16,302 vehicles in September.
Tesla (NASDAQ: TSLA) had 10,700 insurance registrations in China last week, down 9.32 percent from 11,800 in the previous week.
Between September 1 and September 10, Tesla vehicles had 13,800 insurance registrations in China.
BYD was at 45,900 units last week, down 9.65 percent from 50,800 units the week before.
Between September 1 and September 10, a total of 63,400 BYD vehicles were registered for insurance in China.
BYD's premium brand Denza was at 2,500 units last week, unchanged from the previous week. Between September 1 and September 10, Denza had the figure at 3,400 units.
Neta stood at 1,700 units last week, down 48.48 percent from 3,300 in the previous week. Between September 1 and September 10, Neta had 1,900 insurance registrations in China.
Zeekr was 1,800 units last week, down 41.94 percent from 3,100 the week before. Between September 1 and September 10, Zeekr had the number at 2,900 units.
Leapmotor was at 2,700 units last week, down 6.90 percent from 2,900 the week before. For September 1 through September 10, Leapmotor had that number at 3,700 units.
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