Sales figures for new energy vehicle companies in November are out! XPeng surpassed 30,000 units for the first time, and Leapmotor achieved its annual target ahead of schedule.
On December 2, Hong Kong-listed auto stocks rose. As of press time, $GAC GROUP(02238.HK) surged 24.50%, $DONGFENG GROUP(00489.HK) rose 8.57%, $BAIC MOTOR(01958.HK) gained 7.59%, $XPENG-W(09868.HK) climbed 5.27%, up 4.18%, BYD Company (01211.HK) rose 2.76%, Great Wall Motor (02333.HK) increased 2.88%, Nio (09866.HK), Leapmotor (09863.HK) and others also advanced.
On the news front, on December 1, the November "report cards" of many new energy brands arrived as scheduled!
According to the published data, driven by the "two new" policies and the promotional activities of "Double 11," the new energy vehicle market in November continued the high prosperity since October. Many automakers set new monthly sales records, and some brands have even achieved their annual delivery targets ahead of schedule.
Specifically, among the new automakers, Li Auto delivered 48,740 new vehicles in November, a year-on-year increase of 18.79% but a month-on-month decline of 5.25%. It has seen a decline for two consecutive months but still leads the new automakers in deliveries.
It is reported that to boost year-end sales, on November 29, Li Auto announced a limited-time zero-interest policy. From now until December 31, users purchasing Li Auto L series and Li Auto MEGA can enjoy a minimum down payment with a three-year zero-interest financial plan.
Ranking second is Leapmotor, which surged in November with deliveries reaching 40,169 units, a year-on-year increase of 117.04%, breaking the 40,000 mark for the first time and setting a new record. From January to November, Leapmotor delivered a total of 251,207 new vehicles, a year-on-year increase of 100.11%, already achieving its 2024 sales target of 250,000 units ahead of schedule.
As for XPeng, November deliveries also hit a record high, surpassing 30,000 units for the first time to reach 30,895, a year-on-year increase of 54.16% and a month-on-month increase of 29.18%. This is mainly attributed to the XPeng MONA M03, which has delivered over 10,000 units for three consecutive months since its launch. The XPeng P7+ became a hot seller immediately after its release, with deliveries exceeding 7,000 units in 23 days. XPeng Chairman He Xiaopeng expects the model to deliver over 10,000 units in December.
Nio's sales performance was also relatively stable. In November, the company delivered 20,575 new vehicles, marking the seventh consecutive month with sales exceeding 20,000 units, a year-on-year increase of 28.92% but a month-on-month decline of 1.91%.
As for Neta Auto, it is currently in turmoil and has yet to disclose its monthly delivery data. It is striving to secure external resources to stabilize its supply chain operations as soon as possible.
Apart from the new automakers, the November report cards of new energy vehicle brands backed by traditional automakers also showed significant growth overall.
Among them, BYD, the leader in China's new energy vehicle market, continued to dominate, selling 506,800 units in November, a year-on-year increase of 67.87% and a month-on-month increase of 0.83%. Its cumulative sales this year have reached 3.7573 million units, a year-on-year increase of 40.02%, already achieving its annual sales target of 3.6 million to 4 million units set at the beginning of the year.
As a new energy vehicle brand deeply empowered by Huawei, Seres sold 36,842 units in November, a year-on-year increase of 54.58%.
In addition, GAC Aion's sales in November reached 42,301 units, achieving year-on-year and month-on-month growth. Deepal Auto, ZEEKR, and Voyah also announced their November delivery data. Among them, Deepal delivered 36,026 units, a year-on-year increase of 122.97%; ZEEKR sold 27,011 units, a year-on-year increase of 106.13%; Voyah delivered 10,856 units, a year-on-year increase of 54.95%.
As for Xiaomi Auto, the Xiaomi SU7 delivered over 20,000 units in November, marking the second consecutive month exceeding 20,000 units. It is reported that Xiaomi aims to achieve a new annual delivery target of 130,000 units.
As the year-end approaches, the auto market is entering the "final battle." Major new energy vehicle brands are seizing the last opportunity to ramp up promotions and make a final push toward their annual targets.
The China Automobile Dealers Association stated that as the year-end nears, the auto market continues to heat up. Automakers and dealers are making all-out efforts to achieve their sales targets, increasing promotions and accelerating sales to boost performance. Additionally, the current round of scrapping and trade-in policies will end in late December, and with the Chinese New Year arriving early in January, a "year-end rally" is expected to be prominent in December.
Bank of Communications International previously noted that with provinces and cities nationwide upgrading trade-in subsidies and the fourth quarter traditionally being a peak season for auto sales, it expects new energy vehicle sales in the fourth quarter to achieve strong year-on-year growth.
Author: Bottle
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
