EV Data

The Chinese New Year holiday from January 21 to January 27 was a significant impact on car companies' sales activity.

This represents a year-on-year increase of 1013 percent-1179 percent, and a quarterly increase of 17 percent-35 percent.

China EV stocks are up an average of 20 percent year-to-date but have underperformed China tech ADRs since December, likely due to investor concerns about weak first-quarter sales and increased competition, according to Edison Yu's team.

In terms of penetration, new registrations of NEVs in Shanghai contributed 53 percent of all new vehicle registrations in 2022.

A facelift of the Xpeng P7 is expected to debut in March, the new SUV G7 is expected to be unveiled at the Shanghai auto show, and an MPV model is scheduled to begin mass production in September, according to local media.

Auto dealers' sales pace was disrupted in January due to the impact of the Covid infection wave and the early timing of the Chinese New Year, the CPCA said.

Nio vehicles registered 2,818 and 2,963 insurance units in China in the first two weeks of January, respectively.

In the second week of January, China's NEV sales, as measured by insurance registrations, were 99,000 units, up 37.51 percent year-on-year and up 28.61 percent from the previous week.

For the full year 2022, China's NEV sales were 6.887 million units, up 93.4 percent year-on-year, accounting for 25.6 percent of all vehicle sales.

The Tesla Model Y sold 315,314 units in 2022, which is 2.11 times that of the second-place Mercedes-Benz GLC.