Correction: BYD’s numbers have slipped compared to the previous week. A previous version incorrectly stated that it was up.
The Nio ET5 had 2,106 insurance registrations last week, the ET7 had 154 and the ES7 had 227.
China’s new energy vehicle (NEV) market continued to improve last week, albeit modestly.
Insurance registrations for NEVs in China for the week ending March 5 were 116,238 units, up 3.8 percent from 111,983 units the previous week, according to data provided to CnEVPost by automotive industry consultancy ThinkerCar.
Insurance registrations for all passenger vehicles in China last week were 345,340, up 4.26 percent from the previous week. Among them, 229,102 insurance registrations were for conventional internal combustion engine vehicles, up 4.49 percent from the previous week.
BYD (OTCMKTS: BYDDY) NEVs saw 38,932 insurance registrations for the week ending March 5, lower than the 39,473 units the week before.
BYD’s battery electric vehicles (BEVs) registered 22,145 insurance units last week, up 2.1 percent from the previous week. Its plug-in hybrids (PHEVs) were 17,787 units last week, down 5.2 percent from the previous week.
Tesla (NASDAQ: TSLA) vehicles had 13,266 insurance registrations for the week, up from 10,705 the previous week.
Model Y insurance registrations were 10,157 last week, up 27.83 percent from the previous week. Model 3 insurance registrations were 3,109 last week, up 12.69 percent from the previous week.
Nio (NYSE: NIO) vehicles registered 3,345 insurance units last week, down slightly from 3,357 the week before.
The ET5 had 2,106 insurance registrations last week, 154 for the ET7 and 227 for the ES7. The company’s older models had a total of 858 insurance registrations last week, including 87 ES8s, 531 ES6s and 240 EC6s.
Li Auto (NASDAQ: LI) insurance registrations for the week were 3,222, down 40.2 percent from 5,387 the previous week.
The Li L9 registered 1,361 units last week, down 36.6 percent from the previous week, while the Li L8 registered 1,623 units, down 44.8 percent from the previous week. The Li L7, which has yet to officially begin deliveries, registered nine units last week.
The company still appears to be clearing inventory of the Li ONE, which saw 229 insurance registrations last week for the discontinued model.
Xpeng (NYSE: XPEV) was 1,421 units last week, down from 1,685 units the week before. This includes 522 P7s, 177 G9s, 505 P5s and 187 G3 series.
Xpeng officially unveiled the P7 facelift P7i in China on March 6, but pricing information is still unknown.
Some local media reported last week that Xpeng was offering big discounts on older P7s to speed up inventory clearance and make way for the sedan’s facelift launch.
Zeekr was 1,814 units last week, down from 1,855 units the week before. This includes 1,299 Zeekr 001s and 515 Zeekr 009s.
BYD’s Denza brand saw 1,808 insurance registrations last week, with 1,658 for the D9 DM-i version and 143 for the D9 EV version.
China NEV insurance registrations for week ending Feb 26: BYD 39,473, Tesla 10,705, Nio 3,357
Weekly NEV insurance registrations in China in 2023
| Wk | BYD | Tesla | Nio | Xpeng | Li Auto | BMW | Zeekr | Neta | Leap | NEV | NEV+ICE |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 03/27-04/02 | 46,218 | 14,275 | 2,730 | 2,034 | 6,185 | 2,598 | 2,571 | 3,740 | 1,166 | 139,464 | 465,450 |
| 03/20-03/26 | 43,490 | 15,886 | 1,909 | 1,564 | 5,081 | 2,365 | 1,214 | 2,934 | 128,300 | 400,400 | |
| 03/13-03/19 | 38,414 | 18,712 | 1,775 | 1,296 | 5,438 | 1,847 | 913 | 515 | 689 | 112,650 | 310,341 |
| 03/06-03/12 | 37,141 | 17,032 | 2,170 | 1,635 | 4,243 | 1,486 | 1,043 | 988 | 522 | 107,767 | 308,726 |
| 02/27-03/05 | 38,932 | 13,266 | 3,345 | 1,421 | 3,222 | 1,663 | 1,814 | 4,109 | 515 | 116,238 | 345,340 |
| 02/20-02/26 | 39,473 | 10,705 | 3,357 | 1,685 | 5,387 | 1,792 | 1,855 | 2,152 | 401 | 111,983 | 331,238 |
| 02/13-02/19 | 37,026 | 5,913 | 3,174 | 1,463 | 4,238 | 2,271 | 1,443 | 1,038 | 329 | 100,408 | 303,101 |
| 02/06-02/12 | 31,417 | 6,963 | 3,045 | 1,396 | 4,062 | 682 | 547 | 1,170 | NA | 85,572 | 280,741 |
| 01/30-02/05 | 24,280 | 8,643 | 1,948 | 975 | 2,240 | 593 | 554 | 3,964 | 114 | 69,692 | 267,843 |
| 01/23-01/29 | 5,280 | 3,356 | 427 | 210 | 990 | NA | 89 | NA | NA | 17,945 | 92,600 |
| 01/16-01/22 | 24,708 | 7,496 | 3,008 | 1,068 | 4,903 | NA | 657 | NA | NA | 67,500 | 330,400 |
| 01/09-01/15 | 40,420 | 12,654 | 2,963 | 1,817 | 4,527 | 2,687 | 1,359 | 420 | 237 | 99,041 | 438,000 |
| 01/02-01/08 | 35,924 | 2,110 | 2,818 | 1,551 | 3,704 | 2,103 | 1,511 | 238 | 80 | 77,000 | 290,000 |
