Nio's insurance registrations were down 8.7 percent last week compared to the previous week, Xpeng was down 18.97 percent and Li Auto was down 14 percent as deliveries are usually slow at the beginning of the month.
Insurance registrations for major electric vehicle (EV) makers in China mostly slipped last week, as deliveries are typically slow at the start of the month.
Li Auto (NASDAQ: LI) continued to top the sales charts for China's new car brands with weekly sales of 8,600 units for the week of October 30 to November 5, 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 that data in May, but has since resumed sharing it.
Li Auto's insurance registrations were down 14 percent last week from 10,000 the week before.
In China, carmakers typically have slow deliveries at the beginning of the month, while deliveries in the last week or two are usually higher than at the beginning of the month.
Li Auto delivered 40,422 vehicles in October, surpassing the 40,000 mark for the first time and seeing record monthly deliveries for the seventh consecutive time.
After achieving combined monthly deliveries of more than 40,000 for its three current models, Li Auto will be challenging for a higher target of 50,000 vehicles per month, Li Xiang, the company's founder, chairman and CEO, said in an October 31 Weibo post.
Li Auto's three models currently on sale are the Li L7, Li L8, and Li L9, all of which are extended-range electric vehicles (EREVs), essentially plug-in hybrids.
Nio (NYSE: NIO) was at 4,200 units last week, down 8.7 percent from 4,600 units the week before. All eight of the company's models currently on sale are battery electric vehicles (BEVs).
Nio delivered 16,074 vehicles in October, up 59.8 percent year-on-year and up 2.77 percent from September. The delivery volume included 11,086 electric SUVs and 4,988 electric sedans.
It currently sells the ES8, ES7, ES6, EC7, EC6, ET7, ET5, and ET5 Touring, of which the first five are SUVs and the last three are sedans.
In the January-October period, Nio delivered 126,067 vehicles, up 36.3 percent year-on-year.
Nio unveiled its organizational and business optimization plan on November 3 for all employees, which includes cutting around 10 percent of positions, consolidating duplicate departments and roles, and improving efficiency.
Xpeng (NYSE: XPEV) was at 4,700 units last week, down 18.97 percent from 5,800 units the week before.
Xpeng (NYSE: XPEV) saw insurance registrations of 4,700 vehicles last week, down 18.97 percent from 5,800 the week before.
Xpeng delivered a record 20,002 vehicles in October, the first time it has surpassed the 20,000 mark. This is a year-on-year increase of 292.12 percent and a 30.65 percent increase from September, marking the ninth sequential increase.
Xpeng's new SUV, the G6, delivered 8,741 units in October, up 7.49 percent from September.
Xpeng launched the 2024 G9 on September 19 and made the starting price significantly lower. On September 25, it launched the 2024 Xpeng P5, which eliminated the LiDAR option.
On November 6, Xpeng released new variants of its flagship sedan, the P7i, with lower-cost Lithium Iron Phosphate (LFP) battery packs, lowering the starting price by RMB 26,000 ($3,570).
Xpeng will officially unveil its first MPV (Multi-Purpose Vehicle) model, the X9, at the Guangzhou auto show later this month.
Tesla was one of the few to see a week-over-week increase in insurance registrations in China last week at 14,000 units, up 29.63 percent from 10,800 units the week before.
The US electric vehicle maker sold 72,115 China-made vehicles in October, up 0.57 percent from 71,704 a year earlier, but down 2.64 percent from 74,073 in September, data released by the China Passenger Car Association (CPCA) on November 2 showed.
Tesla has a factory in Shanghai that produces the Model 3 sedan and Model Y crossover. Breakdown sales figures for the two models are not yet available.
Multiple Tesla salespeople said in their WeChat statuses yesterday that Model Y prices are about to go up in China, saying it's a continuation of the RMB 14,000 price hike for the Model Y Performance.
Local media outlet Jiemian cited Tesla's response today, saying that the company does plan to adjust the prices of other versions of the Model Y after the Model Y Performance's price hike on October 27.
BYD (OTCMKTS: BYDDY) was at 46,700 units last week, down 9.85 percent from 51,800 units in the previous week.
BYD sold 301,833 new energy vehicles (NEVs) in October, the first time it has surpassed the 300,000-unit mark and the sixth consecutive record month.
This represents a year-on-year increase of 38.57 percent, up 5 percent from September and the ninth sequential increase.
BYD's premium brand Denza was at 2,000 units last week, down 4.76 percent from 2,100 units in the previous week.
Neta was at 2,200 units last week, down 12 percent from 2,500 in the previous week.
Zeekr was at 4,000 units last week, up 73.91 percent from 2,300 the week before, and was another besides Tesla to see week-over-week growth.
Leapmotor was at 4,300 last week, up 7.5 percent from 4,000 the week before, and was also one of the ones to see growth.
($1 = RMB 7.2806)
