As of press time, Nio fell 5.44% in Hong Kong, Xpeng dropped 7.89%, Li Auto declined 2.50%, and BYD slid 4.5%.
January sales data released Sunday revealed widespread weakness.
Chinese electric vehicle (EV) makers listed in Hong Kong declined in early trading on Monday as January sales data released Sunday showed overall weakness.
At press time, Nio Inc (NYSE: NIO, HKG: 9866) fell 5.44% in Hong Kong, Xpeng (NYSE: XPEV, HKG: 9868) down 7.89%, Li Auto (NASDAQ: LI, HKG: 2015) down 2.50%, and BYD (HKG: 1211, OTCMKTS: BYDDY) down 4.5%.
Other automakers including Geely Auto (HKG: 0175, OTCMKTS: GELYF), GWM (HKG: 2333, SHA: 601633), Leapmotor (HKG: 9863), and Chery (HKG: 9973) also declined in early trading.
Data released Sunday showed BYD sold 210,051 new energy vehicles (NEVs) in January, down 30.11% year-on-year.
As China’s NEV leader, BYD’s sales performance largely reflects the industry’s overall condition.
Xpeng delivered 20,011 vehicles in January, down 34.07% year-on-year and down 46.65% month-on-month. Li Auto delivered 27,668 vehicles in January, marking an 7.55% year-on-year decline — its eighth consecutive monthly drop — and a 37.47% decrease from December.
Xiaomi EV reported “over 39,000” deliveries in January without specifying the exact figure, suggesting a range between 39,000 and 40,000 units. Xiaomi EV delivered a record 50,212 vehicles in December.
Leapmotor delivered 32,059 vehicles in January, marking a 27.37% year-on-year increase but a 46.94% decrease from December.
Nio performed better, delivering 27,182 vehicles in January — a 96.08% year-on-year surge, though down 43.53% from December. This year-on-year growth was primarily driven by strong performance of the third-generation ES8.
Geely Auto sold 270,167 vehicles in January, up 1.29% year-on-year and up 14.08% month-on-month, making it one of the few Chinese automakers to see sales growth in January.
GWM sold 90,312 vehicles in January, an 11.59% increase year-on-year, though down 27.18% from December.
Nio has delivered its 60,000th third-generation ES8, just two weeks after reaching the 50,000th unit.