China EV Insurance Registrations for Week Ending Aug 20: Tesla 13,900, Li Auto 8,000, Nio 4,100

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China EV Insurance Registrations for Week Ending Aug 20: Tesla 13,900, Li Auto 8,000, Nio 4,100

CnEVPost2023-08-23

Between August 1 and August 20, Tesla was at 39,400, Li Auto at 21,500, Nio at 11,000 and Xpeng at 8,400 units.For the week of August 14 to August 20, Li Auto sold 8,000 vehicles, continuing to top ...

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The company suspended sharing that data in May but has since resumed sharing them.Li Auto's insurance registrations were up 11.11 percent last week from 7,200 the week before. Between August 1 and August 20, insurance registrations for Li Auto vehicles were 21,500 units.Li Auto continues to suffer from capacity constraints, and its founder, chairman and CEO Li Xiang said last week that parts capacity bottlenecks will be resolved in October.Li Auto's plant in Changzhou, Jiangsu province, will be upgraded during China's National Day holiday to support a production expansion, he said last week.October 1 is China's National Day, and this year's legal holiday runs from September 29 to October 6, with September 29 being the Mid-Autumn Festival. October 7 and October 8 will be work days, even though they are weekends.Nio (NYSE: NIO) had 4,100 insurance registrations last week, up 24.24 percent from 3,300 the week before.Between August 1 and August 20, Nio had 11,000 vehicle insurance registrations in China.Nio is currently seeing at least 300 ES6s roll off the production line every day, and some workshops have switched from single-shift to two-shift production, local media Caixin said in a report yesterday, citing a source familiar with the company's production lines.In addition, Nio's F1 plant stopped production for five days from July 29 to August 2 for a production line upgrade, according to the report.Xpeng (NYSE: XPEV) saw 3,200 insurance registrations last week, up 14.29 percent from 2,800 in the previous week. Between August 1 and August 20, Xpeng had that number at 8,400 vehicles.Xpeng is working with suppliers to increase production capacity and expects G6 deliveries to ramp up significantly in September, pushing the company's monthly deliveries to more than 15,000 units, its management said in an August 18 analyst call after announcing second-quarter earnings.Xpeng will challenge the target of 20,000 monthly deliveries in the fourth quarter and get the G6 to deliver more than 10,000 units in a single month, the company said.Tesla (NASDAQ: TSLA) vehicles saw 13,900 insurance registrations in China last week, down 0.71 percent from 14,000 the week before.Between August 1 and August 20, Tesla had 39,400 insurance registrations in China.On August 14, Tesla lowered the prices of two versions of the Model Y in China and began offering insurance subsidies for Model 3 inventory vehicles.On August 16, local media China Securities Journal cited a person familiar with the matter as saying that Tesla's revamped Model 3 is expected to go on sale in China within half a month.Some Tesla stores have already started accepting reservations for the updated Model 3 from Chinese customers, the report said.BYD was at 48,300 last week, up 8.78 percent from 44,400 the week before. Between August 1 and August 20, BYD vehicle insurance registrations stood at 127,600.BYD's premium brand Denza was at 2,400 units last week, down 7.69 percent from 2,600 units in the previous week. Between August 1 and August 20, the figure for Denza was 7,000 units.BYD officially launched the Fang Cheng Bao brand on August 16, and the new brand's first model, the Bao 5 (literally Leopard 5), will make its real-life debut on August 25 at the Chengdu auto show.Geely's premium EV brand Zeekr had 1,500 insurance registrations last week, down 11.76 percent from 1,700 the week before. Between August 1 and August 20, Zeekr had that number at 4,900 units.Neta Auto was at 2,000 units last week, up 5.26 percent from 1,900 units the previous week. Between August 1 and August 20, Neta had the figure at 5,800 units.Leapmotor was at 2,900 units last week, up 11.54 percent from 2,600 units the week before. For August 1 through August 20, Leapmotor had that figure at 7,700 units.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}