's sequential rebound in deliveries in January appears to be largely due to a low base in December.

Neta Auto, a brand owned by Chinese electric vehicle (EV) company Hozon Auto, was one of the few to achieve a sequential increase in deliveries in January over December.

Neta delivered 10,032 vehicles in January, up 66.76 percent from 6,016 in the same month last year and up 95.37 percent from 5,135 in December, according to data it released today.

Neta sold 2,821 units overseas in January, it said.

At the end of January, Neta's cumulative deliveries since inception stood at 385,577 units, data monitored by CnEVPost showed.

Notably, Neta's sequential rebound in deliveries in January appears to be largely due to a low base following a significant drop in deliveries in December. Its deliveries in January remain well below its September and October 2022 highs.

In December, Neta delivered just 5,135 vehicles, down 34.12 percent year-on-year and down 58.94 percent from November. Its major peers mostly saw strong sales in December.

Neta was founded in October 2014 and in November 2018 it launched its first model, the N01.

The company has been seen as a budget EV maker since its inception, as it has primarily targeted the low-end market over the past few years.

Neta's current models on sale include the budget Neta Aya, Neta X, Neta S, and Neta GT, with the Neta S being its flagship sedan and the Neta GT being an electric sports car.

On January 24, Hozon CEO Zhang Yong shared a camouflage-wrapped rendering of the Neta model on Weibo, saying its internal codename is EP41.

It's a shooting-brake-style model, which Zhang said would be unveiled around the Beijing auto show, go on sale in the middle of the year.

The 17th Beijing International Automotive Exhibition (Auto China 2024) will take place from April 25 to May 4, 2024, and will mark the event's return after a four-year hiatus.

Neta is expanding internationally and building overseas factories in Southeast Asia.

On January 12, Neta signed a deal with a Malaysian partner to jointly build its local factory.

The plant is scheduled to go into full production in 2025. Neta's plant in Thailand is already in production, and its plant in Indonesia is expected to go into operation in the second quarter.

Neta to launch its 1st shooting-brake model in mid-2024