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CheDynamics Weekly Report tracks passenger car insurance data in China. This week’s analysis covers the third week of March in 2023, specifically from 2023/3/20 to 2023/3/26.
As car price reductions continue, purchasing power remains significant in some regions.
Based on the overall passenger car insurance data in China: this week’s sales volume was 396,000 units, up 38% YoY and 25% MoM.
By powertrain type:
New energy vehicle sales this week reached 129,000 units, YoY + 27%, MoM + 13%, with a penetration rate of 32.53%.
Looking at the past 4 weeks:
Overall industry sales in March are forecasted to exceed 1.5 million units, with an estimated YoY growth of 7% and MoM growth of 22.6%.
March sales of new energy vehicles are expected to reach 520,000 units, with a YoY growth of 16.8% and MoM growth of + 31%.
Key automotive enterprises are:
- Tesla: 15,900 units, YoY and MoM at 0% and -15%, respectively;
- BYD: 43,500 units, YoY and MoM at +85% and +13%, respectively;
- NIO: 1,900 units, YoY and MoM at -29% and +8%, respectively;
- Li Auto: 5,100 units, YoY and MoM at +157% and -7%, respectively;
- Xpeng: 1,600 units, YoY and MoM at -60% and +21%, respectively;
- Weltmeister: 700 units, MoM at -8%;
This week’s data is acceptable, though it comes at the cost of declining car prices and profits.
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This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email firstname.lastname@example.org.