Insurance registrations for major electric vehicle (EV) makers in China continue to remain low as disruptions from the New Year holiday persist.
For the week of February 3-9 — week six of 2025 — Nio branded vehicles saw 1,100 insurance registrations in China, compared with 3,300 in the previous two weeks combined, according to data shared today by Li Auto.
The numbers shared by Li Auto are by brand, and in Nio’s case do not include insurance registrations for the Onvo sub-brand.
Onvo did not make any of Li Auto’s latest lists, with the brand had combined figures of 2,480 units for weeks four and five.
Industrial production in China was disrupted by the Chinese New Year holiday from January 28 to February 4, when people usually return to their hometowns for vacations.
February 5 was the first working day after the holiday. As part of the holiday schedule, February 8 was an additional working day, albeit on a Saturday.
Nio Inc delivered 13,863 vehicles in January, up 37.87 percent from 10,055 a year ago but down 55.48 percent from 31,138 in December, according to data it released on February 1.
The Nio main brand delivered 7,951 vehicles in January, down 20.92 percent from 10,055 a year earlier and down 61.42 percent from 20,610 in December.
The Onvo brand delivered 5,912 units in January, down 43.84 percent from 10,528 in December.
Nio announced a five-year, zero percent interest financing program for the Nio brand on February 1. Onvo also announced larger promotions on February 7.
William Li, the company’s founder, chairman and CEO, said on February 8 that Nio would have new models or facelifts every quarter this year starting in the second quarter.
Xpeng had 3,400 insurance registrations last week, compared to 11,100 in the fourth and fifth weeks combined.
The company delivered 30,350 vehicles in January, marking the third consecutive month above the 30,000 mark. That was up 267.88 percent from 8,250 in the same month last year, but down 17.29 percent from 36,695 in December.
Xpeng announced on February 5 that it launched a zero down payment, and zero interest financing policy for up to 5 years in China.
Also on February 5, He Xiaopeng, Xpeng’s chairman and CEO, said in a speech that the company was confident it would see deliveries double in 2025 from last year.
Li Auto had insurance registrations of 4,700 units last week, compared to 11,000 units in the previous two weeks combined.
The company delivered 29,927 vehicles in January, down 3.97 percent from 31,165 a year ago and down 48.85 percent from 58,513 in December.
Tesla had 6,200 insurance registrations in China last week, compared to 13,400 in the previous two weeks combined.
Tesla China sold 63,238 vehicles in January, including those sold in China and those exported from China to overseas markets, according to the China Passenger Car Association (CPCA).
That’s down 11.49 percent from 71,447 a year ago and down 32.56 percent from 93,766 in December.
Figures for Tesla’s deliveries in China in January and exports from its Shanghai factory aren’t yet available.
Tesla planned to suspend part of the production lines in Shanghai that make its revamped Model Y for about three weeks during the Chinese New Year break to better optimize equipment, Bloomberg said in a January 15 report, citing people familiar with the matter.
BYD had 28,900 insurance registrations last week, compared with 68,100 units in the previous 2 weeks combined.
The company sold 300,538 new energy vehicles (NEVs) in January, up 49.16 percent from 201,493 a year ago, but down 41.62 percent from 514,809 in December.
BYD yesterday unveiled its vehicle intelligence strategy to start bringing smart driving capabilities to low-cost affordable models.
Xiaomi had 4,400 insurance registrations last week, compared to 8,500 in the previous 2 weeks combined.
Xiaomi EV said on February 1 that its first model, the SU7, once again exceeded 20,000 deliveries in January.
The SU7 electric sedan has delivered more than 20,000 units for 4 consecutive months, Xiaomi EV said in a Weibo post, not mentioning specific numbers as before.
Xiaomi founder, chairman and CEO Lei Jun said in a February 7 Weibo post that he went to Xiaomi EV’s factory to discuss further capacity improvements with colleagues in charge of manufacturing.
Zeekr had 2,400 insurance registrations in week six, compared to 4,500 in the previous two weeks combined.
The company delivered 11,942 vehicles in January, down 4.75 percent from 12,537 a year ago and down 56.08 percent from 27,190 in December.
Zeekr delivered 222,123 vehicles in 2024 and is targeting 320,000 vehicle deliveries in 2025, representing about 44 percent year-on-year growth.
Leapmotor had 2,700 insurance registrations last week, as compared with 9,500 in the previous two weeks combined.
It delivered 25,170 vehicles in January, up 105.02 percent from 12,277 a year earlier, but down 40.8percent from 42,517 in December.
For all of 2024, Leapmotor delivered 293,724 vehicles, up 103.76 percent from 2023.
In 2025, Leapmotor aims to deliver 500,000 vehicles for the full year.
Aito — a brand jointly created by Huawei and Seres Group — had 7,700 insurance registrations in week six, compared to 7,700 in the previous 2 weeks combined.
