China’s electric vehicle (EV) market saw a significant increase in the third week of the year, with several notable exceptions. Nio reported a remarkable 87% increase in sales, while Xiaomi saw a 4% increase, Tesla a 28% increase, and BYD a 29% increase compared to the previous week.
The weekly sales data is released by Li Auto, and although not explicitly stated, it is believed to be based on insurance registration data. The figures represent new energy vehicles (NEV) brand sales, which include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and extended-range electric vehicles (EREVs). It is worth noting that the data also includes hydrogen vehicles (FCEVs), although their sales are minimal in China.
It is important to clarify that the insurance registrations reported by Li Auto represent brand sales and not group sales. For example, BYD sales only include vehicles bearing the BYD badge and do not account for sales of other brands under the BYD Group umbrella.
BYD secured the top spot with 55,000 vehicle registrations, marking a 28.5% increase from the previous week and a 36.14% increase from the same period last year. In the first three weeks of January, BYD sold a total of 134,300 vehicles in China.
Wuling recorded 11,700 vehicle registrations, a 56% increase from the previous week and a 37.65% increase from the same period last year. In total, Wuling sold 24,700 vehicles in China in the first three weeks of January.
Tesla achieved 10,000 vehicle registrations, representing a 28.2% increase from the previous week, although it was down 14.53% from the same period last year. Tesla’s total sales in China for the first three weeks of January stood at 23,300 vehicles.
Li Auto reported 9,500 vehicle registrations, a 25% increase from the previous week and the same period last year. In total, Li Auto sold 23,800 vehicles in China in the first three weeks of January.
Xpeng registered 9,400 vehicle registrations, marking a 27% increase from the previous week and a significant 422.22% increase from the same period last year. Xpeng’s total sales in China for the first three weeks of January were 23,800 vehicles.
Geely recorded 8,400 vehicle registrations, an 18.3% increase from the previous week and a substantial 180% increase from the same period last year. Geely’s total sales in China for the first three weeks of January reached 21,900 vehicles.
In conclusion, the EV market in China experienced notable growth in the third week of the year, with several key players seeing significant increases in sales. The competition among EV manufacturers continues to intensify, driving innovation and pushing the market forward.
