Tesla regains top spot as China's best-selling EV startup

Tesla (NASDAQ:) has regained its position as China's best-selling EV maker, with shipments increasing 60% to 11.7 thousand units, thanks to recent price cuts.

Li Auto (LI) followed with 7.7 thousand units, showing a 13% year-on-year growth. AITO sales reached his record level of 7.3 million units, marking a 7% increase for WoW.

XPeng (XPEV) and Nio Inc. (NIO) experienced moderate growth, with weekly sales rebounding to 1.8-1.9 million units. However, BYD's sales slumped to 42,000 units, the lowest level in nine months.

China's passenger vehicle (PV) sales increased by 6% to 464.9 thousand units, regaining momentum on the back of a sales boost. NEV sales slightly outpaced PV sales with his WoW growth of 7%, but NEV penetration remained at a 6-month low at 31%.

Morgan Stanley research shows final demand may decline in the two to three weeks leading up to the Lunar New Year, causing some automakers to run out of orders and resort to more aggressive promotions to increase car purchases. there is a possibility.

The China Passenger Car Association (CPCA) forecasts that China's overall solar power retail sales in January will be down 7% month-on-month and NEV retail sales will be down 15%, with sales expected to reach 2.2 million and 80 million units, respectively. It is expected that there will be 10,000 units.

TSLA stock rose 1.43% in Tuesday morning trading.