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China EV sales in W3 2024: BYD 40,400, Tesla 11,700, Zeekr 2,800, Nio 1,900

In the third week (W3) of the year, January 15 – January 21, China’s EV market was mostly up, with several exceptions. BYD was flat, Tesla was 60% up, Zeekr was 30% up, and Nio was 12% up from the week before. As the Chinese New Year is coming, we can expect the up trend will continue until the holidays hit in the first week of February.

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The weekly data were published by Li Auto, and they represent weekly sales. The background data are weekly insurance registrations. The numbers are rounded and present new energy vehicles (NEV), the Chinese term for BEVs, PHEVs, and EREVs (range extenders). To be completely precise, it also includes hydrogen vehicles (FCEVs), but their sales are almost non-existent in China.

BYD registred 40,400 EVs, up 0.25% from 40,300 EVs the week before. Between January 1-21, BYD sold 125,100 EVs in China.

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BYD’s premium brand YangWang, which has a sole model on sale – a 1.089 million yuan (153,000 USD) hardcore SUV YangWang U9, registered 398 vehicles, up 47% from the week before.

Second, BYD’s brand, Fang Cheng Bao (FCB), which also has a sole model on sale called Bao 5 (Leopard 5 in English), registered 981 vehicles, down 8% from 1,060 vehicles the week before. FCB is still a premium brand but way cheaper than YangWang. Bao 5 UV has a price tag of around 300,000 yuan (42,000 USD).

The third BYD brand, Denza, is a former joint venture with Mercedes-Benz, which BYD took control of in 2021. It is positioned above BYD-badged cars but below FCB and has three models in its lineup (D9, N7, N8). Denza registered 2,000 cars, up 33.33% from 1,500 the week before.

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Tesla registered 11,700 EVs, up 58.11% from 7,400 EVs the week before. Between January 1-21, Tesla sold 22,400 EVs in China.

Tesla started production of the 2024 Tesla Model 3 (Highland) in China in September, but it was mainly dedicated to export rather than the overcrowded local electric sedan market. The US automaker is rumored to start production of the 2024 Model Y (Juniper) in April.

Tesla model sales breakdown:

  • Model Y: 8,800 units
  • 2024 Model 3: 2,900 units

Nio registered 1,900 EVs, up 11.76% from 1,700 the week before. Nio will reportedly launch 2024 annual updates of their models in April, and last week, they introduced a massive discount of up to 5,500 USD for the 2023 models lineup.

Nio main models sales breakdown:

  • Nio ES6: 780 units
  • Nio ET5/ET5T: 620 units
  • Nio EC6: 300 units

Li Auto got the first spot among EV startups and registered 7,600 vehicles, up 11.76% from 6,800 the week before. Li Auto sells only EREVs and will launch its first EBV Li Mega in March.

Li Auto sales breakdown:

  • L7: 3,200 units
  • L8: 2,200 units
  • L9: 2,200 units

Huawei-backed Aito registered 7,300 vehicles, up 7.35% from 6,800 vehicles the week before.

Aito model sales breakdown:

  • Aito M7: 7,000 units
  • Aito M5: 300 units

Changan’s EV brand, Deepal, got the third spot among EV startups. Deepal sold 3,200 vehicles, down 3.03% from the week before. Zeekr registered 2,800 EVs, up 27.27% from 2,200 the week before. Xpeng registered 1,800 EVs, up 28.57% from 1,400 the week before.

Xpeng introduced a massive discount of over 6,000 USD for its flagship, Sean Xpeng P7i, this week. Moreover, Xpeng X9 MPV is Xpeng’s latest EV, which started deliveries in early January.

Xpeng models sales breakdown:

  • Xpeng X9: 470 units
  • Xpeng G6: 450 units
  • Xpeng P7: 370 units
  • Xpeng G9: 360 units
  • Xpeng P5: 120 units

Volkswagen registered 3,800 electric vehicles, up 8.57% from 3,500 the week before.

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