Major EV companies had mixed performances in terms of insurance registrations in China last week, with Xpeng (NYSE: XPEV) seeing significant growth.
For the week of October 16 to October 22, Li Auto (NASDAQ: LI) sold 9,000 vehicles, continuing to rank No. 1 among China's new car makers as it moves toward 40,000 monthly sales, 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.
Li Auto's insurance registrations were down 14.29 percent last week compared to the previous week's 10,500 units.
As of October 22, Li Auto had sold 26,800 units so far this month, according to data it released.
Li Auto upgraded its plant in Changzhou, Jiangsu province, during the Chinese National Day holiday from late last month to early this month, starting double-shift production across all lines, and on October 8, the company said the upgrade had been completed.
Li Auto delivered a record 36,060 vehicles in September, up 212.72 percent year-on-year and up 3.28 percent from August.
Nio (NYSE: NIO) saw 4,400 insurance registrations last week, up 25.71 percent from 3,500 the week before.
Between October 1 and October 22, a total of 9,500 Nio vehicles were registered for insurance in China.
Nio delivered 15,641 vehicles in September, down 19.08 percent from 19,329 in August while up 43.79 percent from 10,878 a year earlier.
Xpeng (NYSE: XPEV) was at 4,700 units last week, up 46.88 percent from 3,200 units the week before.
Insurance registrations for Xpeng vehicles from October 1 to October 22 were 9,400 units.
Xpeng officially launched the new G9 on September 19 and said on October 7 that the model had received more than 15,000 firm orders after 15 days on the market.
On September 25, Xpeng launched the 2024 Xpeng P5, eliminating the LiDAR option and cutting the number of versions to just two.
Xpeng delivered 15,310 vehicles in September, its 8th sequential increase.
Tesla (NASDAQ: TSLA) was at 8,100 vehicles last week, up 8 percent from 7,500 the week before.
Between October 1 and October 22, a total of 16,500 Tesla vehicles were registered for insurance in China.
Tesla unveiled the revamped Model 3 in China on September 1 and began official sales of the sedan on October 19.
New Model 3 vehicles for test drives will be available in showrooms starting at the end of this month, and first deliveries will begin at the end of this month, Tesla said on Weibo last week.
On October 1, Tesla launched an updated Model Y in China, with unchanged pricing but minor updates to features, and on October 15, the company said deliveries of the new Model Y in China had begun.
Tesla sold 74,073 China-made vehicles in September, including 43,507 delivered in China and 30,566 exported, data released earlier this month by the China Passenger Car Association (CPCA) showed.
BYD (OTCMKTS: BYDDY) was at 51,700 units last week, down 4.08 percent from 53,900 units the week before.
Between October 1 and October 22, a total of 162,200 BYD vehicles were registered for insurance in China.
BYD sold 287,454 new energy vehicles (NEVs) in September, up 42.83 percent year-on-year and up 4.76 percent from August.
BYD's premium brand Denza was at 2,200 units last week, unchanged from the previous week.
Neta was at 3,000 units last week, down 6.25 percent from 3,200 the week before.
Zeekr was at 1,800 units last week, down 21.74 percent from 2,300 the week before.
Leapmotor was at 3,700 units last week, up 19.35 percent from 3,100 the week before.