In the final week of November, specifically week 48 of the year, the Chinese electric vehicle (EV) market saw overall growth, with the exception of Wuling. Key players such as Xiaomi, Tesla, Nio, and BYD all experienced positive momentum compared to the previous week.
The data for week 48, which ran from November 25 to December 1, was used for year-over-year (YoY) comparisons against the same week in 2023, which fell between November 28 and December 3.
Li Auto publishes weekly sales figures based on insurance registration data, which are rounded and encompass new energy vehicles (NEVs), including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and extended-range electric vehicles (EREVs). While hydrogen vehicles (FCEVs) are also included, their sales in China are minimal. Onvo registrations, on the other hand, are sourced from China EV DataTracker.
BYD, a prominent player in the EV market, recorded 97,800 vehicle registrations, marking a 2.0% increase from the previous week. Year-over-year, BYD’s registrations surged by an impressive 74.0%.
In 2024 (January-November), BYD reported sales of 3,740,930 passenger EVs, representing a 40% increase from the same period in the previous year. The company’s sales mix consisted of 42% BEVs and 58% PHEVs.
On the flip side, Wuling registered 19,500 vehicles, indicating a 5.3% decrease from the previous week. However, year-over-year, Wuling’s registrations grew by a substantial 58.5%.
Tesla, a major player in the global EV market, registered 18,700 vehicles in week 48, reflecting a 12.0% increase from the previous week. Year-over-year, Tesla’s registrations rose by 6.2%.
Li Auto registered 11,900 vehicles, marking a 2.6% increase from the previous week. Year-over-year, Li Auto’s registrations grew by 24.0%. In 2024 (January-November), Li Auto delivered 441,995 EVs, up 35.7% from the same period in the previous year.
Other notable players in the Chinese EV market included Geely, Xpeng, Leapmotor, Aito, GAC Aion, Xiaomi Auto, Deepal, Zeekr, Nio, and ArcFox, each experiencing varying degrees of growth in registrations compared to the previous week.
Overall, the Chinese EV market continues to show upward momentum, with key players driving growth and innovation in the industry. The data reflects the ongoing shift towards electric mobility in China and highlights the competitive landscape among leading EV manufacturers.
