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Newly-insured cars totalled 180,000 in November

iconDec 16, 2020 16:27
According to the insurance data of new energy passenger cars, the number of insured cars in November stood at 177,000, up 40.5% from the previous month.

SHANGHAI, Dec 16 (SMM) – According to the insurance data of new energy passenger cars, the number of insured cars in November stood at 177,000, up 40.5% from the previous month. Among them, the sales volume of pure electric vehicles stood at 150,000, accounting for 84.5%, and the sales volume of plug-in hybrid vehicles stood at 27,000, accounting for 15.5%.

In the insurance data of pure electric vehicles in November, individual users accounted for 71.5%, operating users reached 18.8%, and non-operating users accounted for 9.6%. Demand for rental is higher than the previous month, and the proportion is also increased accordingly. From the risk of passenger cars, individual users increased by 33.5% from the previous month and increased by 102.3% year on year. Operating users increased by 79.1% month on month and 48% year on year. Demand of private consumers and operating market increased synchronously in November, and the overall market demand picked up obviously.

From the perspective of sales volume of new energy vehicle enterprises, SAIC-GM-Wuling Automobile kept the first place in November, reaching 35,998 vehicles, maintaining a high growth rate of about 40% month on month, setting a new record for single-month sales volume of pure electric vehicles this year. Its Hongguang MINI has been infiltrated in various provinces and cities, and its performance, cost, brand effect, etc., together with the promotion of new energy to the countryside policy, have driven the sales volume to rise continuously, and led the A00 market to gradually replace the domestic low-speed electric vehicle market.

BYD still maintained the second position, and steadily increased month on month. Tesla's domestic sales rose sharply in November, reaching 64.6%, and exceeded 20,000 vehicles for the first time. Sales of SAIC passenger cars increased by 44% month on month in November, and the sales in Shanghai increased by nearly half. Sales of Roewe Clever, Roewe Ei5 and Roewe RX5 all increased. In addition, Changan Automobile's sales this month increased by 80% month on month, mainly due to the increase in its Yidong sales. FAW Car, which newly entered the ranking list, increased by over 1000% year on year, and the increase mainly came from Pentium B30 and Hongqi E-HS3 models.

From the perspective of new energy vehicles, Hongguang MINI continues to be the first, with sales volume reaching more than 30,000 vehicles, up 47.6% from the previous month. The insurance coverage in Henan, Shandong, Jiangsu and other provinces and cities increased sharply in November, and the insurance coverage in Shanghai and Guangdong also increased. Tesla Model 3 ranked second, and its insurance volume finally exceeded 20,000 vehicles this month, up 64.6% month on month. Shanghai, Guangdong, Zhejiang are the main cities of car insurance coverage. 

The sales volume in Shanghai increased significantly in November, rising 206% month on month, mainly due to the influence of Shanghai license restriction. Euler R1 entered the third place, up 50% month on month. The compact body and relatively high cruising range of Euler Black Cat products were deeply loved by consumers, and increased greatly in Henan and Shandong provinces in November. BYD's "Han" sales growth rate is relatively stable, which has remained at around 40% in recent two months.  

At present, BYD's production capacity is basically normal, and it is expected that the market outlook will gradually exceed 10,000 vehicles. The highest growth rate in November was Changan Yidong, and the increase was mainly in the online car market in Chongqing. In addition, the insurance coverage of Ideal ONE, Tucki P7 and Weimar EX5, which are the new forces of making cars, increased month by month, while the sales volume of Weilai ES6 declined slightly, mainly because the sales volume of EC6 replaced part of the market share of the same brand models.

It is worth noting that among the TOP15 models in November, SUVs and A-class cars are the most, followed by A00-class cars, and finally B-class and C-class cars. However, A00-class models are mostly ranked in the forefront, such as Hongguang MINI, Euler R1 and Chery eQ1. There are the largest number of SUV models, but the highest ranking is the eighth ideal ONE, with less than 5,000 vehicles insured in a single month. Judging from the proportion of vehicles in November, A00-class models have a great advantage, and the monthly proportion has gradually increased since the second half of the year, mainly due to the launch of new energy to the countryside activities in the second half of the year, mainly promoting low-end models. At present, although the market demand is the highest in the high and low markets, considering the per capita economic level and the cruising range of A00 class cars, the expansion speed of the low-end market is still much higher than that of the high-end market.

Judging from the amount of risks in various provinces and cities, Shanghai has the first impact, and Guangdong Province and Henan Province rank second and third. Shanghai's insurance coverage in November rose by 140.5% month on month, mainly due to the implementation of Shanghai's license restriction policy in November, the restrictions on the passage time of foreign license cars, and the unlimited green license of NEVs, which increased the demand for new energy vehicles in Shanghai. Tesla Model 3, BYD Han, Roewe RX5, Hongguang MINI and buick Velite 6 are the main incremental models.

In November, the insurance coverage in Guangdong Province also increased month-on-month, among which the most popular models were Guangzhou Automobile AION S, Tesla Model 3 and BYD Han. Henan Province increased by 29% month on month in November. The main models are Hongguang MINI, Euler R1, Chery eQ1, etc., and the main market is A00-level market, with individual users accounting for 90.1%.

For the past 18 years, Henan is going strong with the policy of promoting new energy vehicles into the local market, among which the policies of unlimited use of pure electric passenger cars and reduction of parking fees have played a positive role in promoting private consumers to buy NEVs.

New energy

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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