Written by Cláudio Afonso | LinkedIn | X
Weekly car insurance data for China from August 5 to 11 revealed mixed results compared to the previous week, with Tesla leading gains while most of the local electric vehicle (EV) startups experienced declines.
Tesla registered 15,500 vehicles in China during the period, marking a 24% increase from the previous week’s 12,500 units. Of these, 11,860 were the Model Y, currently the world’s best-selling car, while the revamped Model 3 accounted for 3,640 units.
The result represents Tesla’s strongest week so far in the third quarter and the third-best week of the year.
Tesla’s updated Model 3 starts at 231,900 yuan ($32,330), with the newly launched Performance version priced at 335,900 yuan ($46,830).
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BYD, China’s largest EV manufacturer, recorded 78,500 units, reflecting a slight decrease of 2.1% week-over-week (WoW).
Li Auto reported a 5.9% WoW decline with 11,100 units. Despite these declines from last week, both BYD and Li Auto set new monthly sales records in July.
BYD delivered 342,383 new energy vehicles (NEVs) last month, up 30% year-over-year (YoY) and surpassing its previous record of 341,658 NEVs. The company also delivered 130,000 battery electric vehicles (BEVs) during the month.
Li Auto delivered 51,000 NEVs in July, achieving a 49.4% year over year growth. Year-to-date deliveries for the Beijing-based company reached 239,981 units.
Meanwhile, pure EV makers Nio and XPeng saw significant declines in registrations. Nio registered 3,300 units, a sharp 43.1% drop WoW, while Xpeng recorded 1,700 units, down 22.7% WoW.
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In a research note published Monday, BOCOM International, one of China’s leading commercial banks, predicted a boost in NEV development due to recent government measures. The bank identified BYD, Li Auto, and Nio as its top picks to benefit from these measures in the coming months.
Xiaomi, the smartphone giant and the newcomer to the EV market, registered 3,500 units of its inaugural model, the SU7, a 7.9% WoW decline.
Despite the recent dip, Xiaomi’s SU7 registrations have shown resilience over the past three weeks, with a total of 11,200 units (an average of 3,966 per week) recorded after the decline to 1,900 units four weeks ago.
Written by Cláudio Afonso | LinkedIn | X
