This article appeared for the first time on Gurufocus.
The Chinese electric vehicle market experienced a lively rebound in August while several car manufacturers displayed record monthly deliveries following new models at competitive prices.
NIO (NIO, Financials) delivered 31,305 units, a new summit, largely by its ONVO sub-brand, which alone represented 16,434 vehicles. The new six -seat SUV of the L90 company was launched on August 1, with a seven -seater model expected at the end of September.
Xpeng also reached a record, offering 37,709 vehicles in August, stimulated by solid sales of its new P7 model at low prices, which started at 219,800 yuan (~ $ 30,800) and began to ship on August 28.
Leapmotor led in the growth rate, offering 57,066 units of 88% over one year on the other at the momentum from its new B01 model and an update of popular colors for the B10.
Meanwhile, Byd maintained its domination with 371,501 units sold in August, up 22% compared to a year ago. Xiaomi said that he had maintained delivery volumes above 30,000, continuing the momentum of the launch of the YU7 SUV in July.
Li Auto, however, posted its third consecutive monthly drop with 28,529 deliveries, against 30,731 in July. A controversial crash test video involving its Li i8 model aroused criticism, and although the company has apologized, the counterpoup can have attenuated consumer confidence.
Alliance of intelligent mobility supported by Huawei, including brands like Aito and Cheryalso, fell to 44,579 units, against 47,752 in July.
Although the price war has helped to move the units, the August performances suggest that the brand, confidence and timing are always strongly influenced buyers’ behavior in the VE space.
