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Tesla's insurance registrations last week in China were higher than the previous week's 13,266, while NIO's were lower than the previous week's 3,345.
BYD's new energy vehicles (NEVs) saw 37,141 insurance registrations in China for the week ending March 12, lower than the previous week's 38,932, according to numbers shared today by auto blogger @一路向北BYD.
Tesla vehicles saw 17,032 insurance registrations in China last week, higher than the previous week's 13,266.
NIO was 2,170 last week, down from 3,345 the week before.
Li Auto registered 4,243 units last week, up from 3,222 units the previous week.
XPeng was 1,635 units last week, up from 1,421 units the week before.
BYD's premium brand Denza vehicles saw 1,853 insurance registrations last week, up from 1,808 the week before.
Zeekr was 1,043 units last week, down from 1,814 units the week before.
BMW's NEVs registered 1,486 insurance units in China last week, down from 1,663 units the week before.
The past week has seen a rare price war in China's auto industry involving not only NEV makers, but traditional internal combustion engine automakers as well.
Rumors surfaced last week that BMW dealers were offering a massive subsidy for the all-electric BMW i3 in China, and that consumers who pay full price for the car can even get the model for RMB 120,000 to 180,000, less than half the retail price.
BMW insiders denied this, but sources at BMW dealers said they are indeed offering discounts, and that these measures were only introduced this month, local media Cailian reported last week.
For the BMW i3 eDrive35 L, which currently has a guide price of RMB 353,900, the price after discounts is RMB 248,000, the report said, citing BMW dealership sources.
Consumers will also receive an additional RMB 6,000 subsidy if they trade in their vehicles, the source said.
The increasing number of car companies joining the price war has led to increased consumer wait-and-see sentiment to avoid seeing price reductions shortly after purchasing a car.
Li Auto has introduced a consumer purchase price protection benefit that covers all of the company's currently available models -- Li L7, Li L8, Li L9.
For consumers who purchase these models, if the prices drops within 90 days of their order, then Li Auto will refund the difference.
The policy, which is available to consumers when they purchase the Li L7, Li L8, and Li L9, is primarily intended to make clear to them that Li Auto will not drop the prices, local media outlet The Paper said earlier today, citing salespeople from the company.
China NEV insurance registrations for week ending Mar 5: BYD 38,932, Tesla 13,266, NIO 3,345
Weekly NEV insurance registrations in China in 2023
| Wk | BYD | Tesla | NIO | XPeng | Li Auto | BMW | Zeekr | Neta | Leapmotor | NEV | NEV+ICE |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 03/06-03/12 | 37,141 | 17,032 | 2,170 | 1,635 | 4,243 | 1,486 | 1,043 | 988 | |||
| 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 |
The post China NEV insurance registrations for week ending Mar 12: BYD 37,141, Tesla 17,032, NIO 2,170 appeared first on CnEVPost.
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Vehicle insurance registrations for many NEV companies continued to rebound last week, with Tesla registering significant growth.
Insurance registrations for most new energy vehicle (NEV) brands in China were flat or up slightly last week compared to the previous week, the latest figures show.
Much of this is likely due to a low base caused by last year's Chinese New Year holiday.
BYD and NIO's numbers were higher than the previous week, while Tesla's were lower than the previous week.