In 2024, Nio had 205,300 insurance registrations in China, ranking 5th among new car-making brands and 8th among premium brands. On the other hand, Tesla recorded 659,400 units, placing it 4th among premium brands behind Mercedes-Benz, BMW, and Audi.
Last week, Li Auto shared registrations for major brands in China for the full year 2024. Nio delivered 221,970 vehicles in 2024, showing a 38.70 percent year-on-year increase. It’s important to note that there may be differences between insurance registrations and deliveries or sales figures due to varying statistical methods and the exclusion of overseas deliveries in insurance registrations.
Li Auto topped the list of new car makers with 504,500 insurance registrations for 2024. The company also saw a 33.10 percent year-on-year increase in vehicle deliveries, totaling 500,508 units in 2024.
Xpeng ranked 7th on Li Auto’s list with 171,100 insurance registrations in China for 2024. While Li Auto has yet to enter overseas markets officially, Nio and Xpeng are already delivering vehicles in overseas markets.
Xiaomi had 136,800 vehicle insurance registrations in China in 2024, placing it 8th on the list of new car-making forces. Leapmotor and Zeekr secured the 3rd and 4th spots among new carmakers, respectively.
Mercedes-Benz led the premium brands with 713,900 insurance registrations in China for 2024. BMW followed closely with 696,200 units, Audi with 660,800 units, and Tesla with 659,400 units.
Tesla achieved a record of around 83,000 units sold in China in December and approximately 657,000 units for the entire year of 2024. Li Auto ranked 5th among premium brands, with Zeekr at 7th and Nio at 8th.
In terms of new energy vehicle (NEV) insurance registrations rankings, BYD secured the top spot with 3,492,900 units. BYD reported NEV sales of 4,272,145 units in 2024, showing a 41.26 percent year-on-year increase.
Tesla came in second in the NEV rankings, with Li Auto in fourth place and Zeekr in ninth place. The data provides valuable insights into the performance of various electric vehicle brands in the Chinese market.
