Chinese electric vehicle company Xpeng displays its Volkswagen Mona M03 Coupe in its headquarters display room in Guangzhou, China on August 26, 2024.
CNBC | Cheng Ells
Beijing – China’s electric vehicle starts xpeng Even though Byd has expanded its market dominance in a fierce price war in China, it is still maintaining sales momentum to its competitors.
Xpeng said Tuesday it delivered 34,611 cars in June The eighth month Delivered over 30,000 cars.
Stocks grew more than 2% in New York trading. Xpeng does not specify the delivery portion of a car with a premium driver assistant or a low-priced Mona brand.
China’s electric vehicle price war is only Intensified in recent weeksaroused criticism from the government because of “interaction” or excessive, non-productive competition. Chinese President Xi Jinping also led a senior financial and economic committee meeting on Tuesday, demanding More governance of “low prices, disorderly competition”, According to CNBC translation by Chinese state media.
Competitor’s results are good or bad parameters
Xpeng’s US listed competitors aim to target high advantages in the Chinese auto market, and its sales momentum is more moderate.
Geely supports Zeekr 16,702 vehicles were reportedly delivered in June, down 11.7% from the previous month and 16.9% year-on-year.
Neo Delivery of 24,925 vehicles reportedly increased slightly in June due to its premium “Nio” brand and the growth of its inexpensive ONVO and Firefly Brands.
Li Automatic Report 36,279 vehicles delivered in Junedown 11.2% from May, but its total delivery in the second quarter was 111,074 units, much better than the company’s total Lower guidance 108,000 cars. Friday’s company Cut its second quarter delivery outlook More than 15,000 cars were attributed to upgrades to sales systems.
“Based on our channel inspections and analysis, we understand that Li Auto has started
“The additional rebates in their sales network (from sales staff sharing commissions with customers) are prohibited,” Nomura analysts said in a note on Sunday. They believe that the automaker’s move is to limit competition among sales staff while focusing on improving service and brand recognition.
Most of the models of Li Auto are SUVs with fuel tanks, which expands the car’s driving range and addresses one of the biggest consumer concerns about electric cars. At the end of last year, Lee Automobile delivered more than 50,000 per month.
Tesla under pressure
Listed in Hong Kong Millet More than 25,000 electric vehicles were reportedly delivered in June, a slight decline from last month.
Announced its new Yu7 SUV less than a day 10,000 yuan ($1,400) cheap Compare TeslaModel Y, the Chinese smartphone maker, said its cars received more than 240,000 locked orders. Xiaomi claims that the YU7 has a longer driving range than the model Y, but admits that Tesla’s assisted driving system is more advanced.
According to Xiaomi’s online ordering portal, it will now take more than half a year, or even longer to deliver the YU7 SUV. The company initially said delivery would take one to five weeks.
“We believe that new orders may come from scalpers, reflecting extreme popularity expectations for the new model,” Junheng Li, head of research at JL Warren Capital, said in a report on Wednesday.
“We estimate (Tesla) sales in China in the second quarter were about 128K units, down 12%, which is a swelling pressure on competition due to the introduction of new models of Chinese brands,” Li said.
Tesla raised the price of the Model 3 long-range all-wheel drive in China by 10,000 yuan, according to Tuesday’s website.
As of May, Tesla was the fifth largest automaker of market share in China’s new energy vehicle market, including the only battery and hybrid vehicles. Tesla retails in the country in the first five months of the year, according to China Passenger Car Association Slightly dropped to just over 200,000 units. As of Wednesday morning, June figures are not available.
jumpWith Chrysler and Jeep owner Stellantis Record delivery of 48,006 vehicles One month. According to reports 44,685 cars delivered last month.
Compete with the Giants
Bit Still a giant in the market Passenger car sales are getting higher in June To 377,628 cars, more than half of them are the only battery cars. The rest are plug-in hybrid electric vehicles.
This brought BYD’s passenger car sales to 2.1 million vehicles in the first half of the year.
By comparison, LeapMotor and Li Auto each saw more than 200,000 vehicles delivered in the first half of the year, while Xpeng was on the benchmark for 197,189 delivery.
According to calculations of publicly available figures in CNBC, Xiaomi has delivered more than 150,000 units this year.
Bied, Xiaomi and Geely will be the ones most likely to survive any chaotic industry consolidation, Michael Dunne, director of insights consulting at Dunne.
Speaking about CNBC’s “China connection”, he added that Nio may still be at risk due to its poor financial situation.
