Written by Cláudio Afonso | Info@claudio-afonso.com | LinkedIn | X
China’s weekly car insurance data for the period of April 15 to 21 was released on Tuesday, revealing that passenger car sales soared to 354,000 units. New energy vehicles (NEVs) maintained their 47% market share, consistent with the previous week, with a total of 159,000 units sold.
Recent data from China Passenger Car Association (CPCA) revealed that NEVs constituted 50.39% of vehicle sales in the first half of April, surpassing internal combustion engine (ICE) vehicles for the first time in the history.
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BYD led the ranking with nearly 58,000 insured vehicles, including hybrids and fully electric models, registering a 13 percent increase from the second week of April.
Tesla registered 5,168 vehicles from April 15 to 21 of which 4,615 were the world’s best selling car Model Y while the revamped Model 3 stood at 553 units. So far, the company has sold nearly 13,400 cars in April.
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Tesla’s price reductions continued last Sunday with the company lowering the starting price of the Model 3, Y, S and X in China by 14,000 yuan ($1,930). Tesla’s revamped Model 3 starts now at 231,900 yuan ($32,000) in the country.
In the first week of April, the automaker announced that is introducing a limited-time offer of 0% interest loans as a fresh incentive strategy in China. Since then, Tesla has expanded the incentive to other markets including Germany, Thailand, and the United States.
| Automaker | Units (April 1 – 7)* | Units (April 8 – 14) | Units (April 15 – 21) |
|---|---|---|---|
| BYD (NEVs) | 45,216 | 50,882 | 57,868 |
| Li Auto (NEVs) | 5,626 | 7,160 | 4,488 |
| Aito (NEVs) | 4,189 | 4,900 | 6,044 |
| Leapmotor (NEVs) | 3,247 | 3,976 | — |
| Aion | — | 5,600 | — |
| Changan | — | 3,400 | — |
| Zeekr | 3,200 | 2,677 | 3,159 |
| Nio | 2,139 | 2,529 | 3,019 |
| Tesla | 1,907 | 6,212 | 5,168 |
| Xpeng | 1,230 | 1,500 | 2,494 |
| Xiaomi | 1,093 | 2,394 | 1,716 |
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Li Auto registered a weekly decline of 37.3 percent with nearly 4,500 NEVs sold. The company started the month of April — which was affected by a 3-day holiday — with 5,626 vehicles sold and was able to continue the momentum in the second week increasing to over 7,100 units. Li’s fully electric model Mega accounted for only 173 units as demand concerns raise for the model.
As the EV price battle continues, Li Auto has implemented on Monday a price cut of around 5 percent on four of its five models. Additionally, the company announced plans to refund owners who purchased these models earlier this year.
The price cuts, ranging between 18,000 and 30,000 yuan, apply to the L7, Li L8, Li L9, and Li MEGA models and follow the cuts announced over the last 48 hours by Tesla and BYD.
The automaker shared on Sunday that its recently launched SUV L6 reached 10 thousand orders 72 hours after the launch event. The deliveries of Li’s new entry model has with are scheduled to start later in the month.
Shanghai-based EV manufacturer Nio recorded 3,019 units, its second consecutive week registering a 19 percent weekly increase. The company has now over 7,600 cars insured in China between April 1 and 21 with deliveries expected to surpass 12,000 units.
As reported exclusively by EV on April 9th, the brand will unveil the 2024 version of its flagship sedan this week at the Beijing Auto Show. The EV manufacturer will showcase its entire 2024 model lineup with particular attention drawn to the 2024 ET7. Furthermore, the 2024 versions of the smaller sedan ET5 and the flagship 5-seater SUV ES7 (EL7 in Europe) will be presented for the first time too.
Xpeng registered the largest increase from the previous week with 2,494 vehicles, a strong surge up of over 66 percent following Xpeng’s recent price discounts. Last Saturday, through its Weibo account, the automaker started a temporary car purchase subsidy amounting to 500 million yuan ($70.4 million), accessible until May 5, 2024.
A couple of days after announcing the expansion to Spain and Portugal, the Chinese EV brand Xpeng revealed last week that signed a dealer partnership with Sime Darby Motors in Hong Kong and with Xin Kang Heng Holding in Macau.
(story being updated)
Written by Cláudio Afonso | Info@claudio-afonso.com | LinkedIn | X
