China EV insurance registrations for week ending December 24: Nio 4,100, Xpeng 3,900, Li Auto 12,100, Tesla 18,500

Between December 1 and December 24, Nio was at 12,000 units, Xpeng at 12,500, Li Auto at 36,400, Tesla at 60,200 and BYD at 180,000 units.

For the week of Dec. 18 to Dec. 24, Li Auto (NASDAQ: LI ) sold 12,100 units, the company announced on Weibo today.

As before, Li Auto did not explain the basis for calculating the weekly volume, but apparently it was insurance registrations. The company stopped sharing these numbers in May, but has since resumed sharing them.

Li Auto insurance registrations rose 7.08 percent last week from 11,300 the previous week. The company’s three models currently on sale are the Li L7, Li L8 and Li L9, all of which are electric extended range vehicles (EREVs), essentially plug-in hybrids.

The Li L7 had 4,900 insurance registrations last week, the Li L8 3,800 and the Li L9 3,400, according to Li Auto.

Between December 1 and December 24, insurance registrations for Li Auto vehicles were 36,400 units. The company will challenge the 50,000 monthly sales target this month, it said.

Li Auto delivered a record 41,030 vehicles in November. The company is targeting fourth-quarter vehicle shipments to be in the range of 125,000 to 128,000 vehicles when it reports third-quarter earnings on Nov. 9.

Li Auto announced on the first day of the Chengdu Auto Show on August 25 that its first battery electric vehicle (BEV) model, the Li Mega, will be launched in December. However, the company has not yet announced a launch date, which means the model has been delayed.

Nio Vehicles (NYSE: NIO ) recorded 4,100 insurance registrations in China last week, up 20.59 percent from 3,400 the previous week.

Between December 1 and December 24, a total of 12,000 Nio vehicles were registered for insurance in China.

Nio delivered 15,959 vehicles in November, almost unchanged from October’s 16,074.

Earlier this month, Nio guided for fourth-quarter vehicle deliveries in the range of 47,000 to 49,000, meaning it expects to deliver between 14,967 and 16,967 vehicles in December.

The company unveiled its flagship sedan, the ET9, at the Nio Day 2023 event on December 23 and started pre-sales for the model at RMB 800,000 ($112,150), but deliveries won’t start until the first quarter of 2025.

Nio also unveiled its fourth-generation battery swap station as well as its new 640 kW supercharger at the event and said it aims to add 1,000 battery swap stations and 20,000 charging piles in 2024 in China.

On Dec. 22, Nio announced that it had reached its goal of adding 1,000 battery-swapping stations in 2023.

Xpeng (NYSE: XPEV ) hit 3,900 units last week, down 18.75% from 4,800 units the previous week.

Between December 1 and December 24, Xpeng had 12,500 car insurance registrations.

The company delivered a record 20,041 vehicles in November, the second consecutive month with more than 20,000 units.

Xpeng guided for fourth-quarter shipments of between 59,500 and 63,500 vehicles in its third-quarter earnings report released Nov. 15.

Xpeng will officially launch its first MPV (Multi-Purpose Vehicle) model, the X9, on January 1, with deliveries also starting in January.

Xpeng plans to discontinue the G3 SUV line, including the G3 and G3i. The range is Xpeng’s oldest model and the cheapest.

Tesla (NASDAQ: TSLA ) recorded 18,500 insurance registrations in China last week, up 1.09 percent from 18,300 the previous week.

Between December 1 and December 24, a total of 60,200 Tesla cars were registered for insurance in China.

Tesla sold 82,432 Chinese-made vehicles in November, including 65,504 sold in China and 16,928 exported, according to data released earlier this month by the China Passenger Car Association (CPCA).

Insurance registrations for BYD (OTCMKTS: BYDDY ) vehicles in China totaled 63,900 last week, up 23.60 percent from 51,700 the previous week.

Between December 1 and December 24, that figure for BYD is 180,000 cars.

BYD sold 301,903 NEVs in November, up 31.02 percent from a year earlier and essentially unchanged from October’s 301,833 units, according to data released on Dec. 1.

BYD’s premium brand Denza was at 2,300 units last week, down 17.86% from 2,800 units the previous week.

Zeekr was at 2,800 units last week, up 27.27% from 2,200 units the previous week.

Leapmotor had 4,200 units last week, up 5% from 4,000 units the previous week.

Last week’s Neta data is not available as it failed to enter any of the rankings published by Li Auto. It was 2,600 units the week before.

Data table: weekly insurance registrations in China EV

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