Smart and Sustainable Electric Mobility
China's auto market is expected to continue to show seasonality at the start of the year, with overall passenger car retail sales expected to be around 1.75 million units, down 33.6 percent from the previous month.
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China's BEV ownership stood at 22.09 million units at the end of December, accounting for 70.34 percent of the total 31.4 million NEVs.
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Xiaomi had 5,400 insurance registrations last week, Li Auto 7,600, Xpeng 7,400, Zeekr 2,800, Leapmotor 5,200 and Aito 5,000.
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For the full year of 2024, China's NEV sales amounted to 12.866 million units, contributing 40.9 percent of the total vehicle sales of 31.436 million units.
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Tesla sold 657,102 retail units in China in 2024, ranking third in the Chinese NEV market with a 6.0 percent share, according to the CPCA.
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China's retail penetration of NEVs stood at 49.4 percent in December, marking the fourth consecutive month of decline and the first time since June that the penetration rate has fallen below 50 percent.
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China's NEV retail penetration was 52.6 percent in December and 47.97 percent in 2024, according to preliminary CPCA data.
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Xiaomi had 4,600 insurance registrations last week, Li Auto 6,700, Xpeng 7,000, Zeekr 5,000, Leapmotor 4,300 and Aito 6,100.
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This is the fifth consecutive month that China's monthly NEV wholesale sales have exceeded 1 million units.
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More promotion boosted December deliveries of the Nio brand, while the increase of Onvo was due to improving supply, said analysts at Deutsche Bank.
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