Li Auto had 11,400 insurance registrations last week, Xpeng 5,400, Zeekr 5,800, Leapmotor 8,200 and Aito 8,400.
Major electric vehicle (EV) makers continued to see mixed insurance registrations in China last week.
For the week of October 28 to November 3, Nio (NYSE: NIO) branded vehicles saw 4,400 insurance registrations in China, up 4.76 percent from 4,200 in the previous week, according to data shared today by Li Auto (NASDAQ: LI).
This is the second consecutive week of sequential growth in insurance registrations for Nio-branded vehicles in China.
Li Auto stopped sharing weekly insurance registrations earlier this year, and after about a year of doing so. It resumed sharing those numbers in the form of weekly rankings in early May.
The numbers Li Auto shares are tallied by brand, which in Nio's case excludes sales of sub-brand Onvo.
Onvo launched its first model, the L60, on September 19, and deliveries began on September 28.
Nio Inc delivered 20,976 vehicles in October, up 30.50 percent from 16,074 a year ago while down 0.97 percent from 21,181 in September.
Nio's main brand delivered 16,657 vehicles in October, up 3.63 percent from 16,074 a year ago but down 18.14 percent from 20,349 in September. Onvo delivered 4,319 vehicles in October, up 419.11 percent from 832 in September.
Nio will hold the Nio Day 2024 event in Guangzhou on December 21, before that it will celebrate its 10th anniversary on November 25.
The company will launch a new sub-brand codenamed Firefly at Nio Day 2024 to target the market priced between RMB 100,000 and RMB 200,000 yuan.
The main Nio brand targets the high-end market priced at RMB 300,000 and above, while Onvo targets the RMB 200,000 to RMB 300,000 market.
Yesterday, Reuters reported that Nio plans to launch its first hybrid model in 2026 and will sell it only in overseas markets such as the Middle East, North Africa and Europe.
Li Auto had 11,400 insurance registrations last week, up 0.88 percent from 11,300 the previous week, according to figures shared by the company.
The automaker delivered 51,443 vehicles in October, up 27.26 percent year-on-year but down 4.22 percent from September.
Li Auto guided fourth-quarter vehicle deliveries on October 31 to be between 160,000 and 170,000 vehicles, implying a year-on-year increase of 21.4 percent to 29.0 percent, just slightly higher than the 152,831 vehicles delivered in the third quarter.
The guidance implies that Li Auto's monthly deliveries for the last two months of the year will likely be at just over 50,000 units.
Li Auto's deliveries for the full year 2024 would be in the range of 501,812 to 511,812 units, as per the guidance.
In the January-October period, Li Auto delivered 393,255 vehicles, up 38.16 percent year-on-year.
Xpeng (NYSE: XPEV) insurance registrations decreased 3.57 percent to 5,400 vehicles last week, compared to 5,600 in the previous week, ending a three-week streak of sequential gains.
It delivered 23,917 vehicles in October, up 19.57 percent from 20,002 a year ago and up 12.01 percent from 21,352 in September.
In the January-October period, Xpeng delivered 122,478 vehicles, up 20.73 percent year-on-year.
The company will officially launch the P7+ on November 7, and the new electric sedan began pre-sales in China on October 14 with a starting price of RMB 209,800 yuan.
Xpeng will report its unaudited financial results for the third quarter of 2024 on Tuesday, November 19, before the US markets open.
Tesla (NASDAQ: TSLA) had 15,700 insurance registrations in China last week, up 49.52 percent from 10,500 the previous week.
Tesla has a factory in Shanghai that produces the Model 3 sedan and Model Y crossover, both for deliveries to local customers and as an export hub for it.
Tesla China sold 68,280 vehicles in October, including those sold in China and exported from China to overseas markets, the lowest since April, according to the China Passenger Car Association (CPCA).
That's down 22.69 percent from 88,321 in September and down 5.32 percent from 72,115 in the same month last year.
Earlier today, Tesla announced on Weibo that from now until December 3, Chinese customers who order a new Tesla vehicle through Tesla's official trade-in service and complete delivery within the contract period will have a chance to win a visit to Tesla Giga Shanghai.
BYD (HKG: 1211, OTCMKTS: BYDDY) had 96,300 insurance registrations last week, up 0.73 percent from 95,600 the week before.
It sold 502,657 new energy vehicles (NEVs) in October, surpassing the 500,000 mark for the first time and marking the fifth consecutive month of record highs.
That's up 66.53 percent from 301,833 in the same period last year and up 19.84 percent from 419,426 in September.
In the January-October period, BYD's NEV sales amounted to 3,250,532 units, up 36.49 percent year-on-year.
In August-October, BYD increased capacity by nearly 200,000 units, the company's executive vice president He Zhiqi said on November 2 on Weibo.
He didn't specify, but the nearly 200,000-unit capacity increase should be monthly capacity. BYD's monthly sales grew to 500,000 units in October from about 370,000 in August.
Xiaomi (HKG: 1810, OTCMKTS: XIACY) logged 3,100 insurance registrations last week, its lowest in the past 2 months and a 45.61 percent decrease from the previous week's 5,700.
Xiaomi announced on October 29 that it had delivered more than 20,000 units of its sole model, the SU7 electric sedan, in October and reiterated that it would meet its full-year delivery target of 100,000 units ahead of schedule in November.
It also announced on October 29 that the powerful SU7 Ultra began pre-sales in China at a price of RMB 814,900 yuan.
The official launch of the SU7 Ultra -- priced nearly four times the regular SU7's RMB 215,900 starting price -- will be in March 2025, the company said.
Zeekr (NYSE: ZK) had 5,800 insurance registrations last week, up 13.73 percent from 5,100 the previous week.
It delivered a record 25,049 vehicles in October, surpassing September's previous record of 21,333 vehicles. This is a 91.55 percent year-on-year growth and a 17.42 percent increase from September.
In the January-October period, Zeekr delivered 167,922 vehicles, up 82.32 percent year-on-year.
The company is targeting to deliver around 230,000 vehicles for the whole of this year. This means that to accomplish its goal, it needs to deliver an average of about 31,000 vehicles per month in the remaining two months.
Zeekr will report its third-quarter 2024 unaudited financial results on Thursday, November 14, before the US markets open.
Leapmotor (HKG: 9863) had 8,200 insurance registrations last week, down 3.53 percent from 8,500 the week before.
It delivered 38,177 vehicles in October, up 109.74 percent year-on-year and up 13.06 percent from September.
This is the fifth consecutive month of record monthly deliveries for the NEV maker and the third consecutive month of over 30,000 units.
From January to October, Leapmotor delivered 211,038 vehicles, up 97.18 percent year-on-year.
Aito -- a brand jointly created by Huawei and Seres Group -- had 8,400 vehicles for insurance purposes last week, down 3.45 percent from 8,700 the week before.
Data table: China EV insurance registrations in Oct 28-Nov 3
More From CnEVPost
