Car and City: Shanghai's insurance registrations of new vehicles in Oct. 2021

Shanghai (Gasgoo)- In October 2021, the insurance registrations of locally-made passenger vehicles in Shanghai, one of the most developed cities in China, reached 46,956 units, dropping 8.3% from the previous year, while sliding 23% from the previous month, according to the China Banking and Insurance Regulatory Commission (CBIRC).

Among the homebred PVs registered in Shanghai in Oct., 17,139 units were new energy vehicles (NEVs), representing a 68.8% surge compared to the year-ago period. The Oct. NEV registrations consisted of 11,602 BEVs, 1 FCV, and 5,536 PHEVs (including 731 units).

Regarding ownerships, there were 38,230 and 6,807 homegrown PVs registered by private users and business users respectively in Oct. Besides, a total of 1,887 vehicles were registered for car rental service.

In terms of Oct. PV registrations, the top three auto brands in Shanghai were Volkswagen, Buick, and BYD. Roewe ranked fourth, outsold by BYD by only 223 units.

Among the top 10 auto brands, Tesla was the unique one with only BEVs registered, while Cadillac only had oil-fueled vehicles for registration. Notably, NEVs accounted for 84.2% of BYD's Oct. Shanghai registrations.

By Oct. insurance volume in Shanghai, the list of the top 10 PV models was evenly occupied by oil-fueled and NEV products. The best-selling model was still the Model Y, the same as that of Sept. The five oil-fueled models were the Excelle, the Lavida, the GL8, the Envision, and the Roewe RX5. The only two PHEV models were under BYD brand.

By Oct. new energy vehicle registrations, the most popular auto brand in Shanghai was BYD, which had 2,528 PHEVs and 1,823 BEVs registered respectively. Tesla was the second runner-up, while its Oct. registrations in Shanghai tumbled 69.8% MoM. Three Chinese startups—XPeng, NIO, and Li Auto—cracked the top 10 rankings.

A total of three NEV models recorded over 1,000 units of Oct. registrations in Shanghai, and they all only had all-electric versions for sale. Among the top 10 NEV models, five were from BYD, namely, the Tang DM, the Qin PLUS EV, the Han EV, the Qin PLUS DM-i, and the Song PLUS DM-i.