China EV insurance registrations for week ending Aug 18: Nio 3,300, Tesla 14,300, Xiaomi 2,600, BYD 78,500

Li Auto had 10,700 insurance registrations last week, Xpeng 2,300, Zeekr 3,500, Leapmotor 5,300 and Aito 5,600.

Major electric vehicle (EV) makers continued to show weak insurance registrations in China last week, continuing the trend from the beginning of the month.

For the week of August 12-18, insurance registrations of Nio (NYSE: NIO) vehicles in China came in at 3,300 units, flat from the previous week, according to data shared today by Li Auto (NASDAQ: LI).

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Li Auto stopped sharing weekly insurance registrations figures earlier this year, about a year after doing so, and it resumed sharing those numbers in early May.

Nio delivered 20,498 vehicles in July, its third consecutive month above the 20,000 mark. That's up 0.18 percent from 20,462 units a year ago, though down 3.35 percent from 21,209 in June.

Li Auto's insurance registrations last week were 10,700 units, down 3.6 percent from the previous week's 11,100.

Li Auto delivered a record 51,000 vehicles in July, the second time it has passed the 50,000 mark after 50,353 in December last year.

That's up 49.41 percent from 34,134 vehicles in the same month last year and up 6.75 percent from 47,774 vehicles in June.

Li Auto will report unaudited financial results for the second quarter of 2024 on Wednesday, August 28, before the US markets open.

Already published figures show that Li Auto delivered 108,581 vehicles in the second quarter, which is within the guidance range of between 105,000 and 110,000 vehicles.

Xpeng (NYSE: XPEV) had 2,300 insurance registrations last week, up 35.29 percent from 1,700 the week before.

Xpeng delivered 11,145 vehicles in July, up 1.24 percent year-on-year and up 4.47 percent from June.

That was the fifth consecutive month-over-month increase in Xpeng's monthly deliveries, but still only about half of the more than 20,000 monthly deliveries in the fourth quarter of last year.

Xpeng will announce its unaudited financial results for the second quarter of 2024 in a few hours. Already-released figures show that Xpeng delivered 30,207 vehicles in the second quarter, which is within the guidance range of between 29,000 and 32,000 vehicles provided by Xpeng on May 21.

Xpeng will hold a launch event for the M03, the first model in the Mona array, on August 27 starting at 7 pm Beijing Time.

Tesla (NASDAQ: TSLA) had 14,300 insurance registrations in China last week, down 7.74 percent from 15,500 the previous week.

Tesla China sold 74,117 vehicles in July, including 27,890 exported and 46,227 sold in China, according to the China Passenger Car Association (CPCA).

BYD (HKG: 1211, OTCMKTS: BYDDY) had 78,500 insurance registrations last week, up 3.56 percent from 75,800 the week before.

The company sold a record 342,383 new energy vehicles (NEVs) in July, up 30.60 percent from 262,161 a year ago and up 0.21 percent from 341,658 in June.

Xiaomi (HKG: 1810, OTCMKTS: XIACY) had insurance registrations of 2,600 units last week, down 25.71 percent from 3,500 the week before and the third consecutive weekly decrease.

Xiaomi EV's factory in Beijing, which kicked off double-shift production in June, underwent line maintenance in July, which was completed at the end of the month.

Zeekr (NYSE: ZK) had insurance registrations of 3,500 units last week, up 2.94 percent from 3,400 the week before.

Zeekr delivered 15,655 vehicles in July, up 30.04 percent from 12,039 a year earlier but down 22.14 percent from 20,106 in June.

Leapmotor (HKG: 9863) had 5,300 insurance registrations last week, down 1.85 percent from 5,400 the week before.

Leapmotor delivered 22,093 vehicles in July, up 54.12 percent year-on-year and up 9.83 percent from June.

Aito, the brand jointly created by Huawei and Seres Group, saw insurance registrations of 5,600 vehicles last week, up 43.59 percent from 3,900 the week before.

Aito delivered 41,535 vehicles in July, up 881.68 percent year-on-year but down 2.91 percent from June, according to figures it released earlier this month.