Summary
– Insurance registrations for Nio vehicles in May were close to April’s total deliveries
– Shares of major EV makers in Hong Kong saw significant gains ahead of May delivery data releases
– Nio delivered 15,620 vehicles in April, up significantly from previous months
– Xpeng delivered 9,393 vehicles in April and expected to deliver between 29,000 to 32,000 units in the second quarter
– Li Auto delivered 25,787 vehicles in April and expects to deliver 105,000 to 110,000 vehicles in the second quarter
Article
The month of May saw a surge in insurance registrations for Nio vehicles, with 15,400 registrations recorded between May 1-26. This number was close to the total deliveries made by Nio in April. The stock prices of major electric vehicle (EV) makers traded in Hong Kong also rose significantly ahead of the release of May delivery data. Nio, Xpeng, Li Auto, Leapmotor, and BYD all saw gains in their stock prices, suggesting positive investor sentiment towards the EV market in China.
Nio announced that it had delivered 15,620 vehicles in April, marking a significant increase from the previous month and a substantial year-on-year growth. The number of insurance registrations for Nio vehicles in May was almost on par with the total deliveries for April, indicating a potential increase in deliveries for the month. The introduction of limited-time entitlements for the BaaS battery rental service could have a significant impact on May deliveries for Nio. Customers who ordered a Nio vehicle on or before May 31 and chose the BaaS option could benefit from free billing and vouchers for battery swap services.
Xpeng reported delivering 9,393 vehicles in April, with an increase both month-on-month and year-on-year. The company also provided guidance for second-quarter deliveries, expecting to deliver between 29,000 and 32,000 units. Xpeng’s sub-brand, Mona, is set to launch its first model in June, with sales and deliveries expected to begin in the third quarter of the year. Li Auto delivered 25,787 vehicles in April, with a slight year-on-year increase but a decrease from the previous month. The company has set guidance for second-quarter deliveries, aiming to deliver between 105,000 and 110,000 vehicles.
BYD reported selling 313,245 new energy vehicles (NEVs) in April, marking a significant increase from the same month a year ago. The company also saw an increase in insurance registrations for its vehicles in China in May. The overall performance of China’s EV market in May could indicate a reversal of the weakness seen earlier in the year. These positive trends in deliveries, insurance registrations, and stock prices suggest a growing interest and demand for electric vehicles in the Chinese market.
The upcoming expiration of the limited-time entitlements for the BaaS battery rental service could be a key factor influencing the delivery numbers for Nio in May. The company is expected to announce updated versions of the BaaS entitlements, which may impact customer demand and delivery volumes. Xpeng’s guidance for second-quarter deliveries and the launch of its sub-brand’s first model in June indicate a strong growth trajectory for the company. Li Auto’s guidance for second-quarter deliveries also suggests a positive outlook for the company’s performance in the coming months. The overall increase in insurance registrations for EV makers in China signals a growing interest and adoption of electric vehicles in the market.
Read the full article here
