EV Data

By the end of 2023, China had 15.52 million BEVs, accounting for 76.04 percent of all NEVs.

China's total vehicle sales in 2023 stood at 30,094,000 units, the first time it has surpassed the 30 million mark, with NEVs contributing 31.6 percent.

BYD ranks No. 1, Tesla No. 2, and Nio No. 9 in terms of NEV market share in China in 2023.

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.

For the full year 2023, China's NEV penetration at retail was 35.7 percent, up 8.1 percentage points from 2022.

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.

China's retail penetration of passenger NEVs was 39.6 percent in December and 35.7 percent in 2023, according to preliminary CPCA data.

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