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Li Auto and Xpeng set monthly delivery records as their luxury EVs lure more wealthy consumers away from petrol cars
- Beijing-based Li Auto said on Wednesday that it broke delivery records for the seventh consecutive month in October
- Guangzhou-headquartered Xpeng reported 20,002 deliveries in October, up 30.7 per cent month on month
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Daniel Renin Shanghai
China’s leading makers of premium electric vehicles (EV) reported record monthly deliveries in October, in the latest sign that battery-powered cars are continuing to win favour with wealthy consumers in mainland China.
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Beijing-based Li Auto announced on Wednesday that it broke delivery records for the seventh consecutive month in October when it handed 40,422 vehicles to mainland customers, up 12.1 per cent from September. The sales number also represented a year-on-year jump of 302 per cent.
Guangzhou-headquartered Xpeng reported 20,002 deliveries in October, up 30.7 per cent month on month, beating the previous record of 16,000 units set in December 2021.
Meanwhile Shanghai-based Nio, another premium EV assembler, said that its sales in October were up 2.8 per cent from a month earlier to 16,074 units. That was 21.4 per cent shy of Nio’s monthly sales record of 20,462 units in July.
“Middle-class consumers in China are now inclined to buy electric cars because of rising environmental awareness and growing interest in intelligent features,” said Tian Maowei, a sales manager at Yiyou Auto Service in Shanghai. “Top EV makers are the beneficiaries of the country’s fast-growing EV market as they offer a wide variety of high-performance cars to lure customers.”
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Xpeng, Nio and Li Auto are the three mainland carmakers taking on Tesla in China’s premium EV segment.
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