Just last month, on July 31, Li Auto released its newest model, the Li i8. This is a big deal considering the growing competitive electric vehicle (EV) market. The just-announced Li i8, of which three versions will be offered, starts at 321,800 yuan and goes as high as 369,800 yuan ($44,700 to $51,400). Even with the release of this new vehicle, the company announced a drop in deliveries for the month of July.
Li Auto was down to 30,731 units delivered in July compared with last June’s 36,279 units. This decrease marks a shocking 39.7% decrease from the same month last year. This drop in deliveries sheds light on the growing pressures Li Auto is under to keep its spot in the market as competition continues to build.
Nio experienced significant setbacks in July. The company just announced 21,017 units delivered, a decline from 24,925 in June. This decline affirms the struggles within the EV sector, as Nio continues to adjust its strategies to meet evolving market demands. Nio officially released its latest SUV model, the L90. It sells for 265,800 yuan, or 179,800 yuan if you take a battery subscription to lure early adopters.
Li Auto and Nio both reported drops in their EV deliveries. Xiaomi rejoiced over a big surge in its figures. The skyrocketing demand pushed the company to 33,000+ units delivered in July, an increase over 25,000 in June. This growth comes as positive news for Xiaomi as it forges its path within the highly competitive global landscape of electric mobility.
Geely-owned Zeekr continued its particularly strong month with 16,977 vehicles delivered in July, unchanged from the previous month’s total in June. This steady pace of deliveries from Zeekr is a welcome sight of stability in today’s turbulent market. In the same vein, Leapmotor hit 50,129 units delivered in July—a minor drop of 2.7% YoY.
BYD recently experienced a significant shift in July. It marked the first month-on-month delivery reported by the company this year, down from 377,628 in June to 341,030. This decline might reflect increasing pressures in the market overall that are changing the competitive landscape within the EV space.
On the bright side, Xpeng set a record for deliveries at 36,717 units in July. This figure represents a small step up from June and represents Xpeng’s ninth-straight month of shipments above 30,000 units. This consistent growth bodes well for Xpeng as it continues to adjust its course through the quickly maturing and growing EV space.