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NIO expected to be champion startup in China by 2019 insurance registration
Monika From Gasgoo| January 05 , 2020

Shanghai (Gasgoo)- In November, 2019, 6,369 consumers in China bought the Mandatory Liability Insurance for Traffic Accidents of Motor Vehicle (MLI) for EVs made by Chinese startups, versus 6,459 for the month-ago period, according to the China Insurance Regulatory Commission.

After eleven months through November, the volume of insured startup-made EVs for China totaled 56,587 units.

NIO deliveries 2019, XPENG Motors deliveries 2019, China automotive news

With 2,152 vehicles insured in November, the NIO ES6 was crowned the champion model for the third month in a row. However, compared to 2,152 units for October, the model posted a slight drop due to the termination of the sales peak season. 

Surprisingly, HOZON Auto's NETA N01 outperformed the WM EX5 and the Xpeng G3, and for the first time was honored the runner-up by monthly insurance registrations.

The second runner-up is the WM EX5, while its insurance volume plunged 34% over a month ago. The Xpeng G3 dropped to the fourth place with its monthly volume posting month-on-month decline for two successive months. Besides, NIO’s another model, the ES8, was ranked fifth with 469 units insured.

The LeapMotor S01 maintained its sixth place. Its annual insurance registrations for 2019 are expected to surpass 1,000 units.

NIO deliveries 2019, XPENG Motors deliveries 2019, China automotive news

In terms of Jan.-Nov. performance, NIO got 17,568 ES6s & ES8s insured in total, 2,200 more than that of the runner-up WM Motor. The champion of the year is almost at NIO's fingertips. Moreover, XPENG Motors was ranked third, the last startup with cumulative insurance volume exceeding 10,000 units.

Let's review the performances of the top 3 startups by Nov. volume.

NIO

Since June 2018, NIO has delivered over 30,000 vehicles. In November 2019, the sales of NIO ES6 was the top ten among sales of premium midsize SUVs in China for the third consecutive month.

NIO deliveries 2019, XPENG Motors deliveries 2019, China automotive news

The thriving sales are buoyed by solid sales channels. By December 28, 2019, NIO had already has 66 stores nationwide, including 22 NIO Houses and 44 NIO Spaces. Its sales network has covered 49 cities across the country.

NIO deliveries 2019, XPENG Motors deliveries 2019, China automotive news

(Photo source: NIO)

“After five years of rapid growth, NIO has become more mature in corporate operations, product quality, sales performance, and user experience. We are very confident about the upcoming 2020.” said William Li, founder, chairman and CEO of NIO.

According to NIO's third-quarter financial report, the company expects over 8,000 vehicles to be delivered in the fourth quarter of 2019, thus its annual deliveries are estimated to reach over 20,300 units.

WM Motor

A total of 15,368 WM EX5s were insured during the first eleven months. The startup's second mass-produced model, the EX6 Plus five-seater all-electric SUV, hit the market at the Auto Guangzhou 2019, further enriching the company's product portfolio.

NIO deliveries 2019, XPENG Motors deliveries 2019, China automotive news

NIO deliveries 2019, XPENG Motors deliveries 2019, China automotive news

(Photo source: WM Motor)

To lift sales, WM Motor launched in December a project to make consumers buy its vehicles at the same price as that of the period prior to the national subsidy phase-out. Users would enjoy the after-subsidy price available for 2019 as long as they put down deposit before December 31, 2019 and have their cars registered before March 31, 2020.

HOZON Auto

HOZON Auto outsold both WM Motor and XPENG Motor in November with 1,294 units of the NETA N01 2020 insured.

NIO deliveries 2019, XPENG Motors deliveries 2019, China automotive news

The all-new NETA N01 2020 went on sale in August, and then posted consecutive deliveries growth month by month. Certainly, the right marketing strategic—partnering with a homonymic domestic animated film “Ne Zha” that went viral in last summer—helped the brand wildly known by the public.

NIO deliveries 2019, XPENG Motors deliveries 2019, China automotive news

(Photo source: HOZON Auto)

In addition, HOZON Auto kicked off the presale of its second production model, the NETA U, at the Auto Guangzhou 2019 with after-subsidy price starting RMB150,000. 

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