Deliveries

For the full year 2023, Model Y retail sales in China were up 44.74 percent year-on-year to 456,394 units, while Model 3 sales were up 18.33 percent year-on-year to 147,270 units.

Except for the flagship SUV ES8, all other Nio models saw deliveries increase in December compared to November.

In the fourth quarter, Tesla sold 169,935 vehicles in China, accounting for 35 percent of its global deliveries of 484,507 vehicles.

Insurance registrations for major EV makers in China fell significantly last week, as the beginning of the year and the start of the month are typically low for deliveries.

In December, 17,700 Nio vehicles were registered for insurance in China, 17,300 for Xpeng and 76,000 for Tesla.

Preliminary estimates show that for the full year 2023, China's wholesale sales of passenger NEVs were 8.88 million units, a year-on-year increase of 38 percent, according to the CPCA.

China-made Tesla vehicles sold 248,686 units in the fourth quarter, contributing 51.33 percent of its global deliveries.

Tesla delivered 484,507 units in the fourth quarter, beating market expectations of 483,173 units.

The Yangwang brand delivered 1,593 vehicles and Fang Cheng Bao 5,086 vehicles in December.

Aito said it is ramping up delivery capacity, which is expected to top 30,000 vehicles in a single month beginning in 2024, as it secures more than 120,000 firm orders for the new M7.