On Tuesday, Chinese electric car startups Xpeng, Nio, and Li Auto reported their vehicle delivery totals for July. Xpeng announced 11,008 shipments for the month, a 28% improvement from June. Nio, meanwhile, delivered 20,462 in the month, more than double the figure from the same period a year ago. Li Auto drove the highest number of vehicles in July, at 34,134, soaring by 227.5% from July of last year.
Xpeng, Nio and Li Auto released their vehicle delivery figures for July on Tuesday, unveiling varying levels of growth as the competition in the Chinese market intensifies. Xpeng, which continues to face losses, delivered 11,008 vehicles, a 28% uptick from the month before and its highest monthly amount this year after launching the G6 Ultra Smart Coupe SUV. Although this represents a 4% decline from the same time last year, it was surpassed by Nio and Li Auto. Nio reported 20,462 vehicles delivered, a 103.6% increase year-on-year, while Li Auto achieved a monthly total of 34,134, a 227.5% increase year-on-year. Warren Buffett-backed BYD was the overall biggest electric carmaker in July, having sold 262,161 new energy vehicles. As companies are engaged in a price war, triggered by Tesla, and Beijing is supporting the automotive sector to boost car ownership, June saw an extension of tax reductions on electric vehicles, which may drive up sales in the upcoming months. Despite this, Chinese consumers remain cautious due to the country's slower-than-expected economic recovery after the Covid-19 restrictions were removed at the end of last year.
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