Sales of new-energy vehicles on the rise

Chinese new-energy vehicle startups delivered a total of 23,600 vehicles in the first four months of the year, a 43 percent rise year on year, according to insurance data.

In April, the startups recorded a total of 9,706 vehicles, a jump of 111.7 percent year on year, driven by more new products and a recovery in consumer confidence.

China’s auto sales rose 4.4 percent year on year to 2.07 million vehicles in April, according to China Association of Automobile Manufacturers data.

NIO reported a total of 6,951 vehicles in the first four months to top the list. Lixiang Automotive ranked second with 5,783 vehicles while Xpeng Motors’ 3,565 vehicles put it in third place. 

Sales were concentrated in the top five new-energy vehicle startups with very few sales in the rest, some even experiencing single-digit sales. New companies which had not delivered their vehicles until now may find it difficult to survive in such a competitive market, according to industry insiders. 

Zhang Xiaofeng, an independent market analyst, said: "Chinese new-energy vehicle startups also face competition from US electric carmaker Tesla as the company already lowered its Model 3 prices in China in early May. After the earlier adjustment, the current price for the Model 3 Standard Range Plus is 271,550 yuan, which is very competitive for consumers."

Shanghai-based WM Motor, which came fourth in the sales list, registered 1,047 vehicles in April and 3,284 in the first four months. Fifth-ranked Hozon Auto registered 865 vehicles in April and 2,613 from January to April.

In the first four mouths, 76 percent cars were purchased by individuals or personal buyers.