Phate Zhang

Tesla is offering RMB 8,000 ($1,100) in insurance subsidy for the Model 3, restarting a promotional tool it has used many times previously on the first working day of the Year of the Snake in the Chinese lunar calendar.

Unlike the sequential decline in overall sales, BYD's overseas sales rose 16.07 percent in January from December.

Zeekr's deliveries in January were down 4.75 percent year-on-year and down 56.08 percent from December.

The Nio main brand delivered 7,951 vehicles in January, while the Onvo brand delivered 5,912 units.

Xpeng's monthly deliveries surpassed local peer Li Auto for the first time since September 2022, with the Mona M03 again delivering more than 15,000 units.

Li Auto delivered 29,927 vehicles in January, a decrease of 48.85 percent from December and down 3.97 percent from the same month last year.

Nio has joined Tesla in starting a five-year zero-interest interest financing program and has increased its offerings of free battery swap services.

The automotive business was the main reason for Tesla's weaker-than-expected earnings, as incentives were more intense than expected.

The facelifted Model Y has been better accepted than the facelifted Model 3 after its launch in China, according to local media.

Earlier this week, Nio surpassed 100,000 battery swap services in a single day.