Chinese EV makers report bumper sales for September, but analysts predict bumpy road ahead

Chinese EV companies are in a festive mood as performance reports for September roll in. The top three Chinese smart EV makers, Nio, Li Auto, and Xpeng Motors, reported upbeat sales in September 2022.

However, analysts have rained on their parade with predictions of increased competition in the new energy vehicle (NEV) market.

NIO deploys first battery swap station in Germany.

Li Auto sold 11,531 units in September, a 152 percent increase over August when it sold 4,571 units. The new L9 flagship SUV moved 10,123 units in its first whole month of availability.

Li Auto accumulated 30,000 pre-orders for the EV in the first three days after launch.

Nio sold 10,878 cars in the same month, a 1.9 percent over the previous month, after recording a 6 percent jump in August.

However, Xpeng is the only one out of the big three to report a drop. It delivered 8,468 cars, down 11.6 percent from August. The company, however, says at 98,553 deliveries in total this year, it has already surpassed their tally from 2021.

September is usually a good month for selling cars, as buyers prepare for travels in the coming months. In addition, the Covid-19 situation is getting better, helping sales.

JP Morgan Fuel Cell Vehicles Report
JP Morgan Fuel Cell Vehicles Report

Li Auto, Nio, and Xpeng will have to watch their backs as local challengers, including Leapmotor and Nezha, are fast expanding their sales.

Xpeng has shown off ultra-fast charging that can add 210 km in just five minutes.