The second week of July saw a mix of typical summer weather, with some notable deviations. Tesla’s gross sales surged by a whopping 75% compared to the previous week, while BYD reported a modest 5% increase. In contrast, Nio and Xiaomi saw their numbers decline by 35%. The North American Electric Vehicle (NEV) market experienced a notable surge of 8.8% growth.
Week 28 of 2024 runs from July 1 to July 7. Week 28 of 2023, employed for year-over-year comparison purposes, spanned from July 10 to July 16.
Li Auto publicly discloses its weekly gross sales figures, which are primarily based on insurance-registered vehicle data, although this information is not explicitly stated. China’s electric vehicle market has seen a surge in demand, with rounded numbers indicating the steady growth of NEV (new energy vehicle) sales. While the industry is almost exclusively focused on battery electric vehicles, China’s market also includes a small presence of hydrogen fuel cell electric vehicles, with their meager sales barely registering in the country. Passenger vehicles are exclusively featured.
Market state of affairs
In China, a total of 365,000 passenger vehicles were registered, representing a 4.9% increase over the previous week, although this figure was still 4.9% lower compared to the same period last year.
New Energy Vehicles (NEVs) claimed a 51% market share, with 186,000 insured models recorded, representing an impressive 8.8% increase compared to the previous week and a remarkable 35% rise year-over-year. ICE registrations fell by a significant 27% over the preceding 12-month period.
Automakers
According to data, BYD led the pack with a significant 61,800 registrations, representing a notable 5.10% increase from the previous week’s 58,800 registered models. Within the initial two weeks of July, from July 1 to 14, BYD registered a staggering 120,600 vehicles in China.
Tesla registered 11,400 electric vehicles, a 75.38% increase from the 6,500 units sold in the preceding week, and a 14% rise from the 10,000 models sold during the same period last year.
Within the first half of the month, Tesla registered 17,900 electric vehicles in China.
Li Auto recorded a significant increase in electric vehicle sales, with 11,300 units registered, representing a 41.25% surge compared to the previous week’s tally of 8,000 and a substantial 46.75% year-over-year growth from 7,700 units sold in the same period last year. In the initial two weeks of the month, Chinese electric vehicle (EV) manufacturer Li Auto logged a notable milestone by registering 19,300 new EVs on its domestic market.
Aito registered 9,400 electric vehicles (EVs), an 18.99% increase from the 7,900 models recorded the previous week, and a staggering 944.44% surge from the 900 models sold during the same period last year. By mid-month, Aito had already recorded a significant milestone in China: 17,300 electric vehicles (EVs) were registered.
Wuling recorded a notable surge in electric vehicle sales, with 7,800 units sold during this period, representing a year-over-year increase of 16.42% compared to the previous week’s total of 6,700 vehicles. In the initial two weeks of the month, Wuling recorded a significant milestone: 14,500 electric vehicle (EV) registrations in China.
South Korean automaker GAC Aion reported a 4.41% increase in electric vehicle (EV) sales, registering 7,100 units for the latest period, compared to 6,800 models sold the previous week. By the midpoint of the month, General Motors’ Chinese subsidiary GAC Aion had already recorded an impressive 13,900 electric vehicle sales in China.
Leapmotor logged a significant surge, with 4,500 electric vehicles (EVs) registered, an 18.42% increase from the previous week’s 3,800 units and a substantial 73.08% rise from the 2,600 models recorded in the same period last year? During the initial two weeks of the month, Chinese electric vehicle (EV) manufacturer Leapmotor successfully registered a substantial 8,300 units.
Volkswagen registered 3,600 EVs.
NIO registered 3,400 electric vehicles, a decrease of 35.85% from the 5,300 units sold the preceding week, and a decline of 12.82% compared to the same period last year when it delivered 3,900 models. During the initial two weeks of the month, Chinese consumers purchased around 8,700 electric vehicles from Nio, a significant milestone for the brand.
Zeekr logged a significant drop of 13.16% in electric vehicle (EV) registrations, with only 3,300 units sold during the recent period, compared to 3,800 units the previous week. Notably, this figure still represents a substantial year-over-year increase of 43.48%, with 2,300 models registered in the same period last year. In the initial two weeks of the month, Zeekr secured a significant milestone by registering 7,100 electric vehicles (EVs) in China.
Last week, Deepal registered 3,300 electric vehicles (EVs), a decrease of 2.94% compared to the 3,400 units registered the previous week. In contrast, this marks a significant increase of 26.92% from the same period last year, when only 2,600 EVs were registered. During the initial two weeks of the month, Deepal recorded a remarkable 6,700 electric vehicle (EV) sales in China.
Xiaomi registered a significant decline in its electric vehicle (EV) sales, with a total of 2,300 units sold, representing a 37.84% drop compared to the previous week’s 3,700 models? In the initial two weeks of the month, Xiaomi recorded a significant milestone with over 6,000 electric vehicles (EVs) registered in China alone?
Denza registered 1,900 electric vehicles, a significant 11.76% increase from the previous week’s 1,700 models, while also marking a notable 24.00% decline compared to the same period last year, when 2,500 units were sold. In the initial two weeks of the month, Chinese electric vehicle (EV) manufacturer Denza recorded a notable milestone: it registered a total of 3,600 new EVs in the domestic market.
Xpeng registered 1,700 electric vehicles (EVs), a decline of 5.56% compared to the 1,800 units recorded the previous week, and a significant drop of 19.05% from the 2,100 EVs sold in the same period last year. In the initial weeks of the month, Xpeng successfully registered an impressive total of 3,500 electric vehicles (EVs) in China.
