From May 1st to May 19th, Nio registered 10,000 units, Tesla 30,800 units, BYD 154,900 units, Xiaomi 4,000 units, Li Auto 18,600 units, and Xpeng 4,800 units.
Insurance registrations by major electric vehicle (EV) manufacturers in China were mixed last week.
According to data shared by Li Automobile (NASDAQ: LI) today, the number of insured Nio (NYSE: NIO) vehicles in China for the week of May 13 to 19 was 4,400, unchanged from the previous week.
Earlier this year, Li Auto stopped sharing its weekly insurance registration numbers, which it had been doing for about a year. It resumed sharing those numbers in early May. The company did not release month-to-date figures as previously.
According to figures released by Li Auto last week, between May 1 and 12, NIO vehicles had 5,600 insurance registrations in China. This means that between May 1 and 19, NIO vehicles had 10,000 insurance registrations in China.
According to figures released on May 1, Nio delivered 15,620 vehicles in April, an increase of 31.64% from March and 134.60% from the same period last year.
Nio officially launched its Onvo (Ledao in China) sub-brand on May 15, and began pre-ordering the new brand’s first model, the L60, for RMB 219,900 ($30,440) including battery.
Furthermore, local media Cailian reported on May 17 that FAW would become the seventh automaker to join the Nio-led battery replacement alliance.
Li Auto’s insurance registrations last week were 7,800, down 2.5% from 8,000 the previous week.
Li Auto’s insurance registrations from May 1st to May 19th were 18,600 cars, and the number of insurance registrations from May 1st to May 12th was 10,800 cars.
The company delivered 25,787 vehicles in April, an increase of 0.41% year-on-year, but a decrease of 11.03% from March.
Li Auto said yesterday that it expects second-quarter deliveries to be in the range of 105,000 to 110,000 vehicles, implying a year-on-year increase of 21.3% to 27.1%.
Given that Li Auto delivered 25,787 vehicles in April, this guidance means it expects to deliver a total of 79,213 to 84,213 vehicles in May and June.
The company said in its earnings conference yesterday that it will not launch a pure electric SUV this year, but will launch it in the first half of next year.
In its previous financial results announcement, Li Auto said it would launch three pure electric SUV models in the second half of 2024.
Li Auto is one of the leading long-range electric vehicle (EREV) companies in China, and the main models sold are the L series EREVs, including Li L6, Li L7, Li L8, and Li L9.
On March 1st this year, Li Auto’s first BEV model, Li Mega MPV (multi-purpose vehicle), was launched with a starting price of 559,800 yuan.
Li Mega’s lower-than-expected performance and the challenges facing L-series sales may be some of the reasons why Li Auto has adjusted its product launch strategy.
On May 19, local media Late Post reported that some employees at Li Auto’s Beijing factory were on vacation for most of last week because sales of Li Mega were lower than expected.
At the time of writing, Li Auto’s Hong Kong-listed shares are down about 19%, mainly due to yesterday’s announcement of lower-than-expected earnings and guidance, as well as further delays in the launch of BEV models.
Xpeng (NYSE: XPEV) had 2,000 insurance registrations last week, down 13.04% from 2,300 the previous week.
The number of insurance registrations for Xpeng from May 1 to 19 was 4,800, considering the 2,800 from May 1 to 12.
The company delivered 9,393 vehicles in April, an increase of 4.07% from March and 32.69% from the same period last year.
The first models under the Xpeng sub-brand (codenamed Mona) will be unveiled in June, the company announced at yesterday’s AI Day event.
Xpeng Chairman and CEO He Xiaopeng said yesterday that Xpeng will invest RMB 3.5 billion in research and development of smart driving-related AI technology and hire 4,000 new professionals in 2024. He said it was planned.
Next, He said Xpeng plans to invest more than RMB 700 million annually in computing power and AI training.
Xpeng will announce its 2024 first quarter financial results later today and will hold a conference call with analysts at 8pm Beijing time.
Tesla (NASDAQ: TSLA) had 13,900 insurance registrations in China last week, an increase of 41.84% from 9,800 the previous week.
The US EV maker’s insurance registrations in China stood at 30,800 units from May 1 to 19, compared with 16,900 units from May 1 to 12.
Tesla sold 31,421 vehicles in China in April, down 49.64% from 62,398 vehicles in March, and 39,956 vehicles sold in the same period last year, according to data released by the China Passenger Car Association (CPCA) earlier this month. It decreased by 21.36% from the previous year.
In April, 62,167 Chinese-made cars were sold, of which 30,746 were exported.
BYD (HKG: 1211, OTCMKTS: BYDDY) registered 53,600 insured vehicles in China last week, down 21.75% from 68,500 the previous week.
According to CnEVPost’s calculations, BYD’s insurance registrations in China from May 1 to May 19 were 154,900. The company’s sales volume from May 1st to May 12th was 101,300 units.
BYD sold 313,245 new energy vehicles (NEVs) in April, an increase of 48.96% from 210,295 units in the same month last year, and an increase of 3.57% from 302,459 units in March.
In April, BYD sold a record 41,011 units in overseas markets, exceeding March’s 38,434 units. This was an increase of 176.6% from the previous year and 6.71% from March.
BYD launched its first pickup truck model, the BYD Shark, in Mexico on May 14, local time, with a starting price of 899,980 Mexican pesos ($53,400).
Xiaomi’s insurance registrations last week were 2,000, an increase of 81.82% from 1,100 the previous week.
The company’s number of insured registrations from May 1 to 12 was 2,000, but from May 1 to 19, the number increased to 4,000.
Xiaomi EV’s factory was closed during the Labor Day holiday earlier this month to maintain equipment and increase production capacity, the company announced on Weibo last week.
According to Xiaomi EV, this is in preparation for the next rapid expansion of delivery capacity.
On May 14, local media Wall Street reported, citing unnamed supply chain sources, that Xiaomi EV is asking upstream suppliers to increase parts supply and increase orders by about 80%.
On May 15, Cailian cited multiple sources as saying that Xiaomi EV’s Beijing factory plans to start two-shift production in June, increasing daily production hours from 8 to 16 hours. Stated.
Also on May 15, Xiaomi EV announced that it had completed the delivery of the 10,000th SU7 and is working to increase production capacity to ensure the delivery target of 100,000 units this year.
Geeker (NYSE: ZK) had 3,900 insurance registrations last week, down 2.5% from 4,000 the previous week.
Zeekr had 9,500 insured units registered from May 1st to 19th, and 5,600 units from May 1st to 12th.
Zeekr went public on the New York Stock Exchange on May 10, becoming the latest Chinese EV maker to go public in the United States.
The company announced yesterday that it has made more than 250,000 deliveries since its founding.
Number of EV insurance registrations in China for the week ending May 12: NIO 4,400, Tesla 9,800, BYD 68,500, Xiaomi 1,100
