China EV insurance registrations for week ending Jan 14
China EV insurance registrations for week ending Jan 14: BYD 40,300, Tesla 7,400, Li Auto 6,800, Aito 6,800, Nio 1,700, and Xpeng 1,400. For the past 2 weeks, they were below the weekly average.
In the second week (W2) of the new year, Jan 8 – 14, China's EV market had mixed development, with some brands continuing to decline while others already started growing (mainly Li Auto, Aito, and Tesla).
Li Auto had weekly sales of 6,800 units, placing it second in sales for new car-making brands in China, the company said.
BYD was down 9%, Tesla was up 130%, and Nio was down 43% from the week before. Among EV startups, Aito holds its surprise lead over Li Auto.
The weekly data were published by Li Auto, and they represent weekly sales. The background data are weekly insurance registrations. The numbers are rounded and present new energy vehicles (NEV), the Chinese term for BEVs, PHEVs, and EREVs (range extenders). To be completely precise, it also includes hydrogen fuel cell electric vehicles (FCEVs), but their sales are almost non-existent in China.
Huawei-backed Aito topped Li Auto's weekly sales list of new carmakers, with 6,800 units last week.
Aito was also No. 1 on the list for the week of Jan 1-7 with 5,900 units, above Li Auto's 4,300 units.
Aito had a weak sales performance in most months of 2023, but the launch of the new M7 in Sep turned its fortunes around. By the end of Dec, the new M7 had received more than 120,000 firm orders, it said.
Nio had 1,700 insurance registrations in China last week, down from 3,000 the week before.
Xpeng was at 1,400 vehicles last week, unchanged from 1,400 the week before.
BYD got the first spot, registering 40,300 EVs, down 9.23% from 44,400 the week before.
Tesla registered 7,400 EVs, up 131.25% from 3,200 the week before.
Huawei's Aito got the first spot among EV startups for the second time and registered 6,800 vehicles, up 15.25% from 5,900 vehicles the week before. Aito sells both BEVs and EREVs.
Aito is a big surprise of 2023 as Huawei got tired of its struggling sales and used its deep pockets to introduce radical price cuts and various perks, and it worked. Aito jumped from 2k-3k monthly sales to almost 25,000 sold vehicles in Dec 2023 and became a relevant player in the tight China EV race.
Changan's Deepal got the third post, making it another surprise as we are not used to seeing it so high on the leaderboard. Deepal registered 3,300 vehicles, down 2.94% from 3,400 the week before. In the first half of the month (January 1-14), Deepal sold 6,700 vehicles in China. Deepal sells BEVs, EREVs, and FCEVs (hydrogen) versions of its two models, the SL03 sedan and S7 SUV.
Xpeng almost didn't make it into the top 10, registering 1,400 EVs, the same as the 1,400 units sold the week before, good for ninth spot..
Volkswagen registered 3,500 EVs, down 7.89% from 3,800 the week before.
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piggycow : any advice on NIO? to cut loss (-15% [Sob]) or to hold. afraid of further dip as i thought resistance of 7 has been broken.
bullrider_21 OP piggycow : There may be a bit more downside. But I think there may be a CNY rally.