Weekly EV insurance registrations (up to Jul 13): Nio - 2,410, Tesla - 12,270, our data shows Amiigo registrations - 6,680

Weekly EV insurance registrations (up to Jul 13): Nio - 2,410, Tesla - 12,270, our data shows Amiigo registrations - 6,680

In the electric vehicle (EV) market of China, June saw a significant surge in sales. Tesla China, for instance, sold 71,599 vehicles during the month, including those destined for overseas markets. However, the month of July has brought a noticeable dip in insurance registrations for several major EV companies, including Nio, Li Auto, Xiaomi, Tesla, and BYD.

The decline, primarily observed between July 7-13, was largely a post-quarter sales adjustment following aggressive Q2 deliveries. As automakers pushed to maximize deliveries before the end of Q2 (June 30), a backlog was created, causing a steep drop in early July as the market normalized.

For Xiaomi, the F2 plant was not fully operational, and modifications at the F1 plant delayed production and delivery of the new YU7 SUV, hurting registrations. Similarly, Li Auto ceased weekly public reporting of registration data since March 2025 due to pressure from the China Association of Automobile Manufacturers (CAAM), limiting visibility on some figures and possibly reflecting broader industry caution.

Nio’s sub-brands like Onvo and Firefly showed mixed performance. While Firefly surged, Onvo faced some weekly declines. The overall group registrations fell by about 18.6% compared to the previous week, partially due to inventory adjustments and regional demand fluctuations.

The entire China EV market saw a steep decline in insurance registrations in early July, with Nio down 34%, Xiaomi 46%, Tesla 75%, and BYD 29%. This reflects a broader market correction after high sales in Q2.

By late July, Nio began rolling out aggressive discounts and new product launches to stimulate demand and clear inventories, indicating that the dip was also tied to strategic timing in the sales cycle.

Meanwhile, Zeekr Group, a competitor to Tesla, delivered 43,012 vehicles in June, a decrease of 7.58 percent from May. The YU7, Xiaomi's first electric SUV, received 200,000 firm orders within the first three minutes of sales and over 240,000 locked-in orders within 18 hours. Deliveries of the YU7 commenced on July 6.

In terms of individual performance, Tesla registered 12,270 vehicles for insurance in China last week, up 144.91% from the previous week's 5,010. Nio Inc delivered 24,925 vehicles in June, marking a new high for this year and the second-highest on record. The Model Y crossover had 9,410 insurance registrations last week for Tesla.

Xiaomi's SU7 had 5,820 insurance registrations last week, while the YU7 had 860. Aito, the brand co-developed by Huawei and Seres Group, saw 8,610 insurance registrations last week. Firefly delivered 3,932 vehicles in June, up 6.85%, and Onvo delivered 6,400 vehicles in June, up 1.89%.

In conclusion, while July has seen a dip in sales for many EV companies in China, it appears to be a temporary adjustment following the high sales of Q2. Strategic timing in the sales cycle and market fluctuations at the start of a month may have contributed to the dip, but aggressive discounts and new product launches suggest a recovery is on the horizon.

1. Nio, Li Auto, Xiaomi, Tesla, and BYD saw a noticeable dip in insurance registrations in early July, primarily due to post-quarter sales adjustments.
2. The Xiaomi F2 plant was not fully operational and modifications at the F1 plant delayed production and delivery of the new YU7 SUV.
3. Li Auto ceased weekly public reporting of registration data since March 2025 due to pressure from the China Association of Automobile Manufacturers.
4. Nio's sub-brand, Firefly, surged while Onvo faced some weekly declines.
5. The entire China EV market saw a steep decline in insurance registrations in early July, with Nio down 34%, Xiami 46%, Tesla 75%, and BYD 29%.
6. By late July, Nio began rolling out aggressive discounts and new product launches to stimulate demand and clear inventories.
7. Tesla registered 12,270 vehicles for insurance in China last week, indicating a recovery in sales might be on the horizon.
8. Xiaomi's SU7 had 5,820 insurance registrations last week, while the YU7 had 860, suggesting a decrease in sales for Xiaomi.
9. Aito, the brand co-developed by Huawei and Seres Group, saw 8,610 insurance registrations last week.
10. Despite the dip in July, it appears the decline in sales for many EV companies in China is a temporary adjustment, following high sales in Q2, and a recovery is expected with strategic moves in the market.

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