Written by Cláudio Afonso | Info@claudio-afonso.com | LinkedIn | X
On Tuesday, the weekly car insurance figures for China from April 22 to 28 were published, showing a notable surge for most automakers compared to the previous week.
BYD, renowned for its hybrid and fully electric vehicles, saw a notable increase with 64,000 units insured, marking the fourth consecutive week of growth. The Shenzhen-headquartered company has insured over 217,900 new energy vehicles (NEVs) in the first four weeks of April.
Tesla registered a weekly increase of 184.6 percent to 14,800 vehicles of which 12,600 were the world’s best-selling car Model Y while the revamped Model 3 stood at 2,200 units — a weekly growth of 266.7 percent. So far, the company has registered 26,200 units in April.
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Earlier this month, Tesla reduced prices in the world’s largest auto market followed by the introduction of a limited-time offer of 0 percent interest loans as a fresh incentive strategy across several markets including China.
Tesla’s revamped Model 3 starts now at 231,900 yuan ($32,000) and the recently launched Performance version starts from 335,900 yuan ($46,400).
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Nio registered 5,00 units, up 66.7 percent from the 3,019 units insured in the third week of April. The result reports the third consecutive weekly increase as the company has now over 12,600 electric cars insured in China between April 1 and 28.
Nio Co-Founder Lihong Qin has recently confirmed during a media roundtable at the Beijing Auto Show that the upcoming launch of the first sub-brand, Onvo, will be in mid-May.
As reported by the auto blogger 42号车库 on Weibo, Nio is planning the launch event of its first sub-brand three weeks from today which will include the reveal of the first model, Onvo L60.
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Li Auto registered returned to over 7,000 weekly insured NEVs, a 57 percent increase from the previous week. Li’s fully electric model Mega accounted for only 200 units (up from 173 units) as demand concerns continue.
The automaker shared earlier today that its recently launched SUV L6 reached 20 thousand orders as deliveries of Li’s new entry model are scheduled to start over the next few days. As the EV price battle continues, Li Auto has cut prices earlier this month by around 5 percent on four of its five models.
Xpeng registered a weekly increase with 2,700 vehicles registered (versus 2,494 in the previous week) following recent price reductions. Earlier this month, the automaker started a temporary car purchase subsidy amounting to 500 million yuan ($70.4 million), accessible until May 5, 2024.
Registrations of Xpeng’s X9 MPV increased 25 percent week over week to 500 units.
Huawei’s brand Aito insured 7 thousand units (up 15.8 percent week over week) while Zeekr figures surged 58 percent to 5,000 units. The smartphone giant Xiaomi registered 1,700 units of its first model SU7 as it reached a production milestone of 10,000 vehicles.
Written by Cláudio Afonso | Info@claudio-afonso.com | LinkedIn | X
