Electric vehicle (EV) makers in China experienced a decline in insurance registrations last week, with vehicle deliveries slowing down at the beginning of the month. Nio Inc, a key player in the EV market, recorded 6,270 vehicle insurance registrations during the week of September 1-7, marking a 23.19 percent decrease from the previous week. The Nio main brand saw 2,530 insurance registrations, while its sub-brands Onvo and Firefly recorded 2,650 and 1,090 registrations, respectively.
On the other hand, Tesla’s insurance registrations in China saw a 14.40 percent increase from the previous week, totaling 14,300 units. This growth is significant considering the overall decline in the market. Tesla’s August retail sales in China reached 57,152 units, showing a strong performance compared to the previous year.
Xpeng, another prominent EV maker, recorded 6,700 insurance registrations last week, down 20.24 percent from the previous week. The company delivered a record 37,709 vehicles in August, showcasing steady growth in the market.
Li Auto, BYD, Xiaomi, Zeekr, and other EV brands also saw fluctuations in insurance registrations and deliveries in China. While some brands experienced a decline in registrations, others maintained a steady performance or even achieved growth in sales.
Overall, the EV market in China remains dynamic and competitive, with brands constantly striving to innovate and improve their offerings. Despite the fluctuations in registrations and deliveries, the industry shows resilience and potential for future growth. Stay tuned for more updates on the latest developments in the Chinese EV market.
