In week 47 of this year, November 20-26, China’s EV market sent mixed signals with no particular trend. BYD was down about 9% from the previous week, Tesla was 2% up, and Nio was 11% down. BYD’s Denza had the most significant growth, about 22%.
The 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.
As usual, BYD got the first spot with 48,300 sold vehicles, down 8.7% from the 52,900 units the previous week. Between November 1 and 26, the Shenzhen-based automaker sold 178,000 cars in China.
BYD sells BEV and PHEV, but insurance registration doesn’t show the ratio. It is usually 50:50, with the trend leaning towards BEVs in previous months. It was about 53% of BEV sales in September and growing.
BYD Sales Breakdown (doesn’t include Tang and some other less-selling models):
- BYD Seagull: 8,300
- BYD Song Plus: 6,800
- BYD Qin Plus: 6,700
- BYD Yuan Plus (Atto 3): 5,900
- BYD Dolphin: 5,500
- BYD Han: 3,200
- BYD Seal: 1,900
BYD sold 2,381,471 EVs from January to October. Their goal is to sell at least 3 million vehicles in 2023, with an optimistic target of 3.6 million. That means BYD must deliver at least 300k vehicles in November and December to reach the 3 million mark.
Tesla registered 16,700 vehicles in China, up 2.45% from the previous week. Between November 1 and 26, they sold 56,000 EVs in China. Interestingly, 2024 Model 3 registrations were down compared to last week, while Model Y grew 4.5%. Model 3 is having a hard time in China in 2023 as the 200k – 300k yuan sedan segment is overcrowded, and Tesla China sales rely heavily on Model Y SUV, which still stands well against Chinese competition.
Tesla sales breakdown:
- Model Y: 13,400 (+4.5% WoW)
- Model 3: 3,400 (-4.7% WoW)
Nio registered 3,300 EVs, down 10.81% from 3,700 the previous week. Between November 1 and 26, Nio sold 12,700 units. The sales were driven by ET5 (including ET5T station wagon) and ES6 SUV, contributing most of the deliveries.
Nio Sales Breakdown:
- Nio ET5 & ET5T: 1,100 (-9% WoW)
- Nio ES6: 1,100 (-15% WoW)
- Nio EC6: 600 (-7% WoW)
The company doesn’t plan to launch a new product next year. However, plans to unveil a new entry-level brand focused on Europe – the Alps. The company recently partnered with Changan on their battery swap network and plans to launch an ultra-luxury Mercedes-Maybach-like EV in December during Nio Day, which will launch in 2025.
Li Auto came first among EV startups in China, selling 9,400 EVs, down 6% WoW.
Li Auto Sales Breakdown:
- Li Auto L7: 3,700
- Li Auto L8: 2,900
- Li Auto L9: 2,700
Li Auto sells only range-extended electric vehicles (EREVs), which are EVs with ICE as a power generator for the battery, not connected to wheels. In December, Li Auto will launch its first all-electric car, Li Mega. It will be a massive MPV priced under 600,000 yuan (84,500 USD) with a futuristic design.
Among other brands, Huawei’s brand Aito is a dark horse with 4,700 registrations, up 9.3% from last week. Its Aito M7 SUV became a sales hit, reaching 100,000 firm orders in 2.5 months since its September 12 launch.
Aito Sales Breakdown:
- Aito M7: 3,700
- Aito M5: 1,000
Volkswagen-backed Xpeng is also doing well with 4,400 registrations, up 4.76% from the previous week.
Xpeng Sales Breakdown:
- Xpeng G6: 2,100
- Xpeng 2024 G9: 1,200
- Xpeng P7i: 820
- Xpeng P5: 310
Stellantis-backed Leapmotor registered 4,100 vehicles, down 8.89% from the previous week. Volkswagen reported 5,600 EVs in China, up 3.7% from the last week. Changan registered 6,300 EVs, down 10% from the previous week.
BYD’s brand, Denza, grew 22.22% and registered 2,200 vehicles. Denza registrations are not part of the BYD registrations above. Changan’s Deepal registered 3,200 vehicles, down 8.57% from the previous week. Deepal registrations are also not part of Changan’s overall numbers.
