BYD Leads China's EV Market in Weekly Registrations as Nio Surges 94%

Faizan Farooque

Tue, Apr 15, 2025, 10:51 AM 2 min read

China registered 351,000 passenger vehicles in the week ending April 13, up 3.9% from the previous week, according to data from CarNewsChina. Of these, 186,000 were new energy vehicles, bringing the electric vehicle penetration rate to 53%, an increase of 2.9 percentage points.

• Warning! GuruFocus has detected 4 Warning Signs with NIO.

BYD registered 53,400 vehicles during the week, up 18.4% from 45,100 the week before. In the first two weeks of April, BYD registered 98,500 vehicles in China. The company, which sold 4.3 million vehicles in 2024, is targeting approximately 5.5 million deliveries this year. Its premium brand Denza registered 3,000 vehicles, a 15.4% increase from the previous week.

Tesla (TSLA, Financials) reported 5,400 vehicle registrations in the week, up 50% from 3,600. In March, Tesla China delivered 78,828 vehicles, including domestic sales and exports, down 11.5% from a year earlier but more than doubling February's total.

Li Auto (LI, Financials) followed with 7,200 registrations, up 16.1% from 6,200. Year-to-date April registrations reached 13,400 units. The company, which sold over 500,000 vehicles in 2024, has delayed the release of its next all-electric model after poor reception of its Li Mega minivan. It aims to sell 700,000 vehicles in 2025.

Xpeng (XPEV, Financials) registered 6,700 vehicles, a 10.7% decline from the prior week. The company delivered 33,205 vehicles in March and has surpassed 30,000 monthly deliveries for five consecutive months, aided by its Mona M03 sedan. The model reached 100,000 cumulative units in under eight months.

Xiaomi recorded 6,300 registrations, up 23.5% from the week before. It has delivered 11,400 units in the first half of April and increased its 2025 target from 300,000 to 350,000 vehicles. The company sold 135,000 units in 2024.

Leapmotor reported 6,400 registrations, up 18.5%. The brand recorded 11,800 units for the month to date.

Deepal logged 4,340 registrations, a 5.9% increase. In the first two weeks of April, it recorded 8,440 registrations.

Nio (NIO, Financials) saw a sharp weekly gain, with 3,500 units registered, up 94.4% from 1,800 the previous week. The company ramped up incentives, including five years of free battery swaps. Nio Group, which includes Onvo and Firefly, registered 4,200 units, up 68% from the week prior. Onvo recorded 730 units. Firefly is expected to launch its first model on April 19. Nio is targeting 440,000 deliveries in 2024, with half from Onvo.

Aito registered 3,200 vehicles, a 33.3% drop from the previous week. Zeekr reported 2,300 registrations, down 14.8%. Avatr logged 1,500 units, up 15.4%.