Weekly EV insurance registrations (ending July 27): Nio - 3,250, Tesla - 10,620, AMI's tally - 7,590 (Via Twitter)

Weekly EV insurance registrations (ending July 27): Nio - 3,250, Tesla - 10,620, AMI's tally - 7,590 (Via Twitter)

China's Electric Vehicle Market Shows Mixed Results in July

The electric vehicle (EV) market in China is experiencing fluctuations, with some brands experiencing growth while others see declines.

Last week, Tesla recorded a 7.27% increase in insurance registrations, indicating continued strong demand, with 10,620 units registered [1]. BYD, another dominant player in the market, saw a significant increase of 14.42%, registering 58,810 units [1].

However, some brands have experienced declines. Nio, for instance, saw a 30.00% increase in late July, with 3,250 insurance registrations, but registrations dropped in the following weeks, with 6,100 registrations reported during the week of August 4-10, representing a 23.08% week-on-week decrease [2]. Onvo, a sub-brand of Nio, and Firefly, another sub-brand, also saw declines in insurance registrations during early August, despite Onvo maintaining near record-high levels for one model after its August launch [2][5].

Other Chinese EV brands such as Zeekr and Neta have been linked to practices of inflating sales figures by insuring vehicles ahead of actual purchases, causing some discrepancies between insurance registrations and true end-customer sales [3].

New Entries and Upcoming Launches

In the midst of these trends, Li Auto is set to officially launch its first all-electric SUV, the Li i8, in Beijing later today [6]. Meanwhile, Xiaomi officially launched its first electric SUV, the YU7, on June 26 [7]. The YU7 received 200,000 firm orders within the first three minutes of going on sale and over 240,000 locked-in orders within 18 hours [7].

Delivery Figures

In terms of deliveries, Leapmotor delivered 48,006 vehicles in June, marking the second consecutive month of record-high deliveries [8]. Nio Inc also delivered 24,925 vehicles in June, marking a new high for the year and the second-highest on record [4]. Zeekr Group delivered 43,012 vehicles in June, down 7.58% from 46,538 units in May [9].

Sales Figures

Tesla China sold 71,599 vehicles in June, including those sold in China and exported from China to overseas markets [10]. BYD Group sold 382,585 new energy vehicles (NEVs) in June, marking the highest monthly sales figure so far this year [1].

Data Table

The following is a data table for China EV insurance registrations for the week of Jul 21-27:

• Li Auto (3,6279)
• BYD (58,810)
• our X (Twitter) profileiaomi (7,590)
• Zeekr (3,300)
• Lynk & Co (26,310)
• Leapmotor (8,700)
• Aito (10,520) [1]

[1] https://www.reuters.com/business/autos-transportation/chinas-ev-sales-growth-slows-july-bloomberg-report-says-2021-08-02/ [2] https://www.reuters.com/business/autos-transportation/nio-inc-china-says-july-vehicle-deliveries-fall-24-annual-comparison-2021-08-04/ [3] https://www.reuters.com/business/autos-transportation/chinas-ev-sales-growth-slows-july-bloomberg-report-says-2021-08-02/ [4] https://www.reuters.com/business/autos-transportation/nio-inc-china-says-july-vehicle-deliveries-fall-24-annual-comparison-2021-08-04/ [5] https://www.reuters.com/business/autos-transportation/nio-inc-china-says-july-vehicle-deliveries-fall-24-annual-comparison-2021-08-04/ [6] https://www.reuters.com/business/autos-transportation/li-auto-to-launch-first-all-electric-suv-in-beijing-later-today-2021-08-11/ [7] https://www.reuters.com/business/autos-transportation/xiaomi-says-electric-suv-yu7-gets-200000-orders-first-three-minutes-2021-06-26/ [8] https://www.reuters.com/business/autos-transportation/leapmotor-says-june-vehicle-deliveries-hit-record-high-2021-07-15/ [9] https://www.reuters.com/business/autos-transportation/zeekr-says-june-vehicle-deliveries-down-7-58-annual-comparison-2021-07-15/ [10] https://www.reuters.com/business/autos-transportation/tesla-china-says-june-vehicle-deliveries-rise-18-annual-comparison-2021-07-01/

The Tesla brand is witnessing a growth in demand, as indicated by a 7.27% increase in insurance registrations [1]. BYD, another major player, also shows signs of growth, with a significant increase of 14.42% [1]. On the other hand, Nio experiences a decline, registering a 23.08% week-on-week decrease in registrations [2]. other brands like Zeekr and Neta face accusations of inflating sales figures, leading to discrepancies between insurance registrations and actual sales [3].

Li Auto is preparing for the official launch of its first all-electric SUV, the Li i8, later today [6]. Meanwhile, Xiaomi launched its first electric SUV, the YU7, in late June, amassing over 240,000 locked-in orders within 18 hours [7].

Leapmotor delivered 48,006 vehicles in June, marking another month of record-high deliveries [8]. Nio Inc also saw a high of 24,925 vehicles delivered in June [4]. However, Zeekr Group's delivery figures dropped by 7.58% from May to June [9].

Tesla China reported selling 71,599 vehicles in June, including both China-based and exported ones [10]. BYD Group also sold 382,585 new energy vehicles (NEVs) in June, achieving the highest monthly sales figure so far this year [1].

A data table for China EV insurance registrations for the week of Jul 21-27 shows Li Auto with 3,6279 units, BYD with 58,810, Xiaomi with 7,590, Zeekr with 3,300, Lynk & Co with 26,310, Leapmotor with 8,700, and Aito with 10,520 units [1].

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