Tesla's Resilience in China's EV Market: Week 51 Sales Overview

Tesla's Resilience in China's EV Market: Week 51 Sales Overview

In the 51st week of the year (December 18-24), the Chinese electric vehicle (EV) market experienced a substantial year-end sales surge. Notably, BYD saw a 24% growth, registering 63,900 vehicles. Tesla, with a modest 1% growth, recorded 18,500 EVs, while Nio experienced a 21% growth, registering 4,100 EVs.

Weekly data provided by Li Auto, based on insurance registrations, revealed the overall positive market trend. The figures, rounded and inclusive of new energy vehicles (NEVs), encompass battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and extended-range electric vehicles (EREVs).

Key Highlights:

BYD's Strong Performance: BYD's weekly registration of 63,900 vehicles marked a 23.60% increase from the previous week. In December, BYD aimed to sell 320,000 vehicles globally to meet its annual target of 3 million. The majority of BYD's sales (90%) are in China.

Tesla's Steady Growth: Tesla registered 18,500 EVs, reflecting a 1.09% increase from the previous week. In November, Tesla sold 82,432 China-made vehicles, with a domestic sales figure of 65,504.

Nio's Growth Trajectory: Nio registered 4,100 EVs, experiencing a 20.59% growth from the previous week. Nio set a December target of delivering 15,000 – 17,000 EVs, and the registration trend suggests they may reach or exceed this goal.

Li Auto's Record Ambition: Li Auto, leading among EV startups, registered 12,100 vehicles, showcasing a 7.08% increase from the previous week. The company aimed to break the monthly delivery record with over 50,000 units in December.

Challenges for Xpeng: Xpeng faced challenges in week 51, registering only 3,900 EVs, down 18.75% from the previous week. The introduction of temporary discounts on the Xpeng G6 was noted as an attempt to boost sales.

Neta's Struggles: Neta, not reaching the top 10 of Li Auto's list, reported sales below 1,700 units. The article suggests Neta might face challenges in the price war in 2024.

Denza's Performance: BYD's brand Denza registered 2,300 vehicles, showing a decline of 17.86% from the previous week.

Zeekr and Aito's Success: Zeekr registered 2,800 EVs, indicating a 27.27% growth. Aito, Huawei's brand manufactured by Seres, registered 6,000 vehicles, benefiting from recent discounts and strong sales performance.

Volkswagen's Performance: Volkswagen sold 6,800 EVs of its ID. series, experiencing a 28.30% increase from the previous week.

Source: Car News Chin

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