Despite a July slowdown, BYD retains its lead in China’s competitive EV market.<\/p>\n
Anna Barclay | Getty Images News | Getty Images<\/p>\n
China’s largest EV maker BYD posted its first monthly delivery decline this year, amid stiff competition from a price war that has attracted attention from policymakers in Beijing.<\/p>\n
While other major Chinese electric vehicle makers, including Li Auto and Nio, also reported a drop in July deliveries, Xpeng shipped a record number of EVs in July. There were also bright spots in Xiaomi, Leapmotor and Aito, which recorded month-over-month growth.<\/p>\n
BYD<\/a> shipped 341,030 units in July<\/a> \u2014 down from 377,628 in June \u2014 marking its first monthly decline this year and nearly flat from the same period last year. The dip comes after months of steady growth since the initial 296,446 deliveries in January.<\/p>\n The behemoth discounted several of its lower-end battery-only and hybrid models by around 30% in May, prompting other automakers to follow suit<\/a>. As the price war intensified, China’s top leaders have\u00a0issued warnings<\/a>\u00a0in recent months to halt the excessive competition.<\/p>\n Li Auto<\/a> reported 30,731 units in July,<\/a> down from 36,279 in June and a decline of 39.7% year over year. This was its second consecutive monthly decline and among the steepest across Chinese EV makers.<\/p>\n Nio<\/a> also recorded a sharp drop in July deliveries, with 21,017 units<\/a> \u2014 down from 24,925 in June, which had marked a year-high. On a year-over-year basis, it was down 2.7%, with drops across all of its three main product lines.<\/p>\n Both Li Auto and Nio launched new models on July 31. Li Auto’s first pure electric sport utility vehicle, the Li i8, <\/a>comes in three variations, priced between 321,800 and 369,800 yuan ($44,700 and $51,400). It is scheduled to begin deliveries on Aug 20.<\/p>\n Nio’s new SUV model, the L90<\/a>, is priced at 265,800 yuan or 179,800 yuan with battery subscription. Deliveries for the six-seater began on August 1, with the seven-seater version scheduled for late September.<\/p>\n Rivals post record gains<\/p>\n Meanwhile, Xiaomi<\/a> reported more than 30,000 electric vehicle deliveries this month, up from 25,000 in June — its strongest growth since March. This growth followed the\u00a0launch of its<\/a> YU7 SUV in early July.<\/p>\n Xpeng, <\/a>continuing its winning streak, delivered a record 36,717 units in July<\/a> \u2014 a modest increase from June and its ninth consecutive month of shipments exceeding 30,000 vehicles. On July 30, the company announced that its second-generation Xiaopeng P7 sedan would debut in China<\/a> on Aug 6.<\/p>\n The Harmony Intelligent Mobility Alliance, which is backed by Chinese technology giant Huawei and includes brands such as Aito, Chery and Maextro, also announced that it shipped 47,752 units in July<\/a>. A majority of its combined EV sales were attributed to Aito’s Wenjie series, which delivered 40,753 cars.<\/p>\n Leapmotor<\/a>, backed by European auto giant Stellantis, delivered 50,129 units in July<\/a>. This is its highest monthly sales to date, continuing a steady growth trajectory.<\/p>\n In contrast, deliveries of Zeekr<\/a> were flat in July. The Geely<\/a>-owned company shipped 16,977 vehicles<\/a>, nearly mirroring its performance in June.<\/p>\n Read more CNBC China coverage<\/p>\n","protected":false},"excerpt":{"rendered":"Despite a July slowdown, BYD retains its lead in China’s competitive EV market. 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