A marginal increase in insurance registrations for new energy vehicles (NEVs) was observed in China last week, with major automakers recording a mixed performance.
According to data from automotive consultancy ThinkerCar, insurance registrations for all passenger vehicles in China reached 310,341 for the week of March 13 to March 19 – up 0.52 per cent from the previous week and 3.96 per cent from the same period last month.
Last week, new energy vehicle (NEV) insurance registrations in China rose to 112,650, reflecting a 4.53 per cent increase from the previous week and a 15.49 per cent increase from the same period last month.
According to the latest data, insurance registrations for conventional internal combustion engine vehicles totalled 197,691 units in China last week, marking a 1.63 per cent decline from the previous week and a 1.64 per cent drop from the same period last month.
BYD (OTCMKTS: BYDDY) remained the leader in insurance registrations, with 38,414 units registered last week, up from 37,141 the previous week. Of these, its all-electric models saw a 3.1 per cent decrease in insurance units to 19,262, while its plug-in hybrid model recorded a volume of 19,152 units, up 10.9 per cent from the previous week.
Tesla (NASDAQ: TSLA) saw an increase in insurance registrations last week, totalling 18,712 units – up from 17,032 the previous week. Of these, Tesla Model 3 insurance registrations reached 6,6234 units, reflecting a 9.45 per cent increase from the previous week, while Model Y saw a week-over-week increase of 10.07 per cent to 12,478 units.
NIO‘s (NYSE: NIO) weekly units sold decreased to 1,775 units last week, down from 2,170 units the week before. The breakdown includes 1,263 ET5s, 133 ES6s, 131 EC6s, 107 ES7s, 91 ET7s, and 50 ES8s. The company had earlier guided for first-quarter deliveries between 31,000 and 33,000 units, indicating that March deliveries are expected to fall between 10,337 and 12,337 units. NIO’s insurance registrations for the first week of March, which included February 27 and February 28, stood at 3,345 units.
Li Auto‘s (NASDAQ: LI) weekly insurance registrations rose to 5,438 units last week, up from 4,243 the previous week. This comprises 2,261 Li L7s, 1,625 Li L8s, 1,335 Li L9s, and 216 discontinued Li ONEs.
XPeng (NYSE: XPEV) recorded 1,296 insurance registrations last week, a decline from the previous week’s 1,635 units. The breakdown includes 475 units of P7, 22 units of G9, 448 units of P5, and 152 units of G3 series.
Zeekr‘s insurance registrations for last week totalled 914 units, down from 1,043 the previous week. This includes 471 units of Zeekr 001 and 442 units of Zeekr 009.
