Insurance registrations of Nio’s sub-brand Onvo in China rose 17.9% to 1,450 vehicles between June 16 and 22, figures published on Chinese social media on Tuesday showed.
Registrations peaked at 1,660 units in early May and fell over the next four weeks. Onvo recorded 1,400 deliveries in the last week of May, 1,200 in the first week of June and 1,230 between June 9 and 15.
Sales rose last week for a second consecutive week.
Group sales for Nio, Onvo, and Firefly increased 9.30% to 5,170 vehicles last week.
XPeng’s insurance registrations jumped 32.8% from the second week of June to 8,500 units, while the Beijing-based NEV maker recorded 8,900 vehicles.
Tesla sales in the country declined 11% week over week to 13,800 units.
Onvo President Fei Shen said on Monday that the company will begin pre-sales of its L90 model in “early July,” with showroom units arriving at stores across China at the same time.
On Weibo, Shen wrote, “Wishing Xiaomi YU7 a successful launch! The Onvo L90 is positioned as a flagship SUV with a spacious three-row interior. The car will arrive at all stores and begin pre-sales in early July.”
Xiaomi’s SUV will be officially launched on Thursday, June 26.
Nio is targeting monthly deliveries of 25,000 vehicles under its Onvo sub-brand in the fourth quarter of the year, the company’s founder and CEO William Li earlier this month.
The brand delivered 5,912 units in January, 4,049 in February, 4,820 in March, and 4,400 in April. The internal goals of 16,000 in January and 20,000 units for March were not met.
Deliveries of the L60 in May rose more than 40% sequentially to nearly 6,300 units.
“Our target is to realize a monthly delivery of 25,000 units of Onvo-branded products in Q4,” Li said in early June.
The two additional models, the Onvo L90 and L80, are scheduled to be launched and delivered in the third and fourth quarters, respectively.
