Xpeng, Nio, and Li Auto have released their vehicle delivery numbers for July, showcasing a growing electric vehicle (EV) market in China.
Xpeng reported a significant milestone in July, delivering 11,008 vehicles last month. This was a strong 28% increase from the previous month, and the sixth consecutive month of delivery growth for the automaker, signifying a promising recovery for the company. One of the driving factors behind this achievement was the launch of their latest car, the G6 Ultra Smart Coupe SUV.
While Xpeng’s July numbers were promising and show a continuing trend towards growth over the last few months, their deliveries fell approximately 4% short compared to the same period last year, reports CNBC.
In contrast, Nio delivered 20,462 vehicles, an impressive 103.6% year-on-year increase, also nearly doubling their June figures. Nio’s growth was further propelled by the launch of the refreshed ES6 SUV, which hit the market in May.
Li Auto emerged as the winner in terms of deliveries in July, outperforming both Xpeng and Nio. The company delivered an impressive 34,134 vehicles, a remarkable 227.5% year-on-year increase and a 5% rise from June. This achievement marks the second consecutive month in which Li Auto surpassed the 30,000-vehicle delivery mark.
This growth in the electric vehicle market coincides with China’s recent decision to extend tax breaks for EV purchases through to 2027, further incentivizing consumers to embrace new energy vehicles (NEVs), supporting the sector’s growth. In June, China witnessed a surge in sales of NEVs, which includes all-electric cars and plug-in hybrids, with a growth of over 25%. In contrast, the overall car market experienced a contraction of 2.9%.
