Electric vehicle (EV) makers in China saw a varied performance in insurance registrations last week, with some brands experiencing growth while others saw a decline.
Nio Inc, which encompasses the Nio, Onvo, and Firefly brands, recorded a total of 6,060 insurance registrations in China last week. This marked an 18.82 percent increase from the previous week’s 5,100 registrations. Nio’s flagship brand saw 3,930 insurance registrations, up 13.26 percent from the previous week. Onvo, one of Nio’s sub-brands, registered 1,660 units, a 29.69 percent increase, while Firefly had 470 registrations, up 34.29 percent.
On the other hand, Tesla’s insurance registrations in China dropped significantly by 57.89 percent, with only 3,070 units registered last week compared to 7,290 units in the previous week. This decline in registrations could be attributed to various factors affecting Tesla’s performance in the Chinese market.
Xpeng, another major player in the EV industry, saw a positive trend with 6,870 insurance registrations last week, marking a 23.78 percent increase from the previous week. Li Auto, however, experienced a decline with 8,160 registrations, down by 28.42 percent from the previous week’s 11,400 registrations.
Other notable brands included Xiaomi, which had 5,180 insurance registrations, a decrease of 8.96 percent from the previous week. Zeekr saw a 39.94 percent increase with 4,310 registrations, while Leapmotor and Aito recorded 7,800 and 7,540 registrations respectively, marking positive growth for both brands.
Overall, the EV market in China continues to show dynamic trends in insurance registrations, reflecting the changing landscape of the industry. It will be interesting to see how these numbers evolve in the coming weeks as competition intensifies and new players enter the market. Stay tuned for more updates on the latest developments in the electric vehicle sector.
