Li Auto, Nio Deliveries Slip As Xpeng, Stellantis-Owned Leapmotor Record Sales Surge In July

Li Auto Inc. (NASDAQ:LI), Nio Inc. (NYSE:NIO) and other Chinese EV companies shared their delivery performance data for July amid rising competition in the Chinese domestic market.

Nio, Li Auto Deliveries Slip In July

Nio recorded over 21,017 deliveries in July, a steep decline from June's annual high of 24,925 deliveries, while Li Auto deliveries dropped 39.7% YoY with 30,731 units in July, according to data released by the companies on Friday.

Xpeng, Stellantis-Owned Leapmotor Record Growth

However, Xpeng Inc. (NYSE:XPEV) posted a strong performance in July, delivering a record 36,717 units during the month, a marginal increase from June's deliveries as well as a ninth consecutive month of shipments exceeding 30,000 units. 

Elsewhere, Stellantis NV (NYSE:STLA) backed Leapmotor delivered over 50,129 units in July, its highest monthly sales ever.

BYD's Global Deliveries Fall Amid European Growth

Elsewhere, BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) recorded a 10% decline in its global deliveries during July as the EV giant delivered over 344,296 units following an 8% domestic decline in June. The company's EV sales saw growth, despite PHEVs or Plug-In Hybrid deliveries falling by over 22.6%.

However, despite the decline, the company's European strategy is still proceeding as scheduled, as BYD is preparing to launch its luxury sub-brands, Yangwang, as well as Denza, into the region next year.

Chinese EV Brands Increase EU Market Share

While China's automakers are capturing more of the European EV market, with the market share currently standing at 10.6%, the authorities in China are expressing concern over "irrational competition" in the sector.

The concerns grew as BYD and other big players were accused of allegedly inflating sales figures by insuring vehicles before they were sold to customers, in what's been called the "zero-mile used vehicle" phenomenon.

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