Xiaomi 4,600, Nio 4,700, Tesla 8,500, BYD 106,200

In the second week of October, week 41, China’s EV market was firmly up. Nio grew 4%, Xiaomi 20%, BYD 60% and Tesla 370% from the week before.

Week 41 of 2024 was between October 7 and 13. For context, October 7 was the last day of the week-long China National Holiday, and October 12 was a working Saturday. Week 41 of 2023, used for year-on-year comparison, was between October 9 and 15.

The weekly sales are published by Li Auto, and despite Li’s not explicitly saying it, they are based on insurance registration data. The numbers are rounded and present new energy vehicles (NEV) sales, 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 continued its strong performance, recording 106,200 new registrations, a substantial 57.10% increase from the 67,600 units registered the previous week. Year-over-year, BYD’s registrations have surged by 97.03%, up from 53,900 units. In total, BYD has registered 173,800 vehicles this month between October 1 and 13 (including Monday September 30).

For BYD, this is an all-time high weekly record. In September, the company sold record-breaking 417,603 electric passenger vehicles.

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BYD sells both BEVs and PHEVs, and while last year it sold more BEVs than PHEVs, in 2024, the card is turning. PHEV sales are now growing faster than BEV for BYD. In September, BYD sold 40% BEV and 60% PHEV.

BYD China EV registrations. Source: China EV DataTracker

Tesla saw a spike in registrations, reaching 8,500 units, a 372.22% rise from the previous week’s 1,800 registrations. This also represents a 13.33% increase year-over-year from 7,500 units. So far in October, Tesla has registered 10,300 vehicles.

Tesla China EV registrations. Source: China EV DataTracker

Li Auto registered 13,400 vehicles, reflecting a 54.02% increase from the 8,700 registrations in the previous week. Year-over-year, Li Auto’s registrations grew by 27.62%, up from 10,500 units. The total number of registrations in October so far is 22,100.

Li Auto delivered a record-breaking 53,709 cars in September. On Monday, the company also announced that its one millionth car had rolled off the production line.

Li Auto sells only extended-range electric vehicles (EREVs), a kind of parallel PHEV, where small ICE works only as power generator for the battery or electric motor, but is not connected to wheels.

Aito recorded 7,100 registrations, marking a 54.35% increase from the previous week’s 4,600 units. This also represents a significant year-over-year growth of 195.83% from 2,400 units. Aito has registered 11,700 vehicles this month.

Nio saw a slight increase in registrations, reaching 4,700 units, up 4.44% from 4,500 units in the previous week. Year-over-year, this represents a 34.29% increase from 3,500 units. So far, Nio has registered 9,200 vehicles this month.

In September, Nio delivered 21,181 cars, nearly topping its all-time high record from June’s 21,209. On September 19, Nio also launched the Onvo L60 SUV under its entry-level subbrand Onvo. L60 contributed 832 sold units to September deliveries.

Last week, Nio’s cumulative sales reached 600,000. In Germany, Nio sold 22 cars in September, two years after it entered the market in 2022.

Nio’s China EV registrations. Source: China EV DataTracker

Leapmotor registered 8,700 vehicles, a significant 148.57% increase from 3,500 units in the previous week. Year-over-year, Leapmotor’s registrations have surged by 180.65% from 3,100 units. October’s cumulative registrations stand at 12,200.

Xiaomi saw 4,600 registrations, a 21.05% increase from the previous week’s 3,800 units. There is no year-over-year data available for comparison. Xiaomi has registered 8,400 vehicles this month.

Xiaomi sold 13,559 units of its SU7 electric sedan in September and plans to sell over 20,000 units in October, the company announced. Xiaomi’s first car, SU7, launched on March 28, and the company wants to deliver 120,000 units this year.