Li Auto Inc delivered 47,774 new cars in June, a year-on-year increase of 46.66%. NIO Inc delivered 21,209 new cars in June, a year-on-year increase of 98.09%, while also achieving a new historical high by delivering over 20,000 cars for two consecutive months. Leading Ideal (Zero) Auto delivered 20,116 cars in June, the first time their monthly delivery volume broke 20,000, representing a year-on-year increase of 52.29%.
On July 1st, the new energy auto companies announced their delivery performance in June and the first half of the year. Specifically, Li Auto, NIO, Leapmotor, and Xpeng continued the overall trend of growth in May. Among them, Li Auto achieved 40,000 deliveries after a four-month interval, and the delivery volumes of NIO and Leapmotor hit a historic high. However, the differentiation of the five auto companies became more apparent.
In June, Li Auto delivered 47,774 new vehicles, a year-on-year increase of 46.66%. According to Li Auto's Q1 financial report, the delivery guidance for Q2 was 105,000 to 110,000 vehicles, and the actual delivery volume for the second quarter was 108,581 vehicles, reaching the lower limit of the guidance. As of June 30th, 2024, Li Auto's cumulative delivery volume reached 822,345 vehicles, ranking first among the domestic new energy auto brands.
"The sales momentum of Li's L-series cars can continue to rise. The delivery volumes of Li Auto's L6 exceeded 20,000 units in June, and the delivery volume of the entire product line exceeded 40,000 units." Li Auto Chairman and CEO Li Xiang said that since the second quarter, with the dual effect of the launch of the new car model Li Auto L6 and the improvement of store efficiency, Li Auto has returned to the top of the domestic new energy auto sales charts.
Ranking second, NIO delivered 21,209 new vehicles in June, a year-on-year increase of 98.09%. While achieving over 20,000 deliveries for two consecutive months, the company also hit a historic high. In the first half of 2024, NIO delivered a total of 87,426 new vehicles, a year-on-year increase of 60.24%.
In the view of industry insiders, product competitiveness, the expansion effect brought by the battery swapping alliance, and the BaaS policy are key factors driving the recent growth in NIO's delivery volume. Meanwhile, Chairman Li Bin's livestreaming events have allowed more people to gain knowledge and awareness of NIO, which has driven their purchases.
Leapmotor also hit a historic high with its delivery volume exceeding 20,000 units in June, reaching 20,116 units, a year-on-year increase of 52.29%. Among them, the C10 and C11 models delivered more than 11,300 units, becoming the main sales force of Leapmotor's vehicles. On the evening of June 28th, Leapmotor released its all-new mid-to-large six-seater SUV, the Leapmotor C16. Within 48 hours of the car's launch, pre-orders surpassed 5,208 units, providing a new growth point for Leapmotor's delivery volume.
"Leapmotor will bring more surprises in the second half of the year." Leapmotor Chairman Zhu Jiangming disclosed the delivery data of Leapmotor via video for the first time and revealed that he had purchased the high-end version of the Leapmotor C16 and was waiting for delivery.
Unlike NIO and Leapmotor, Xpeng delivered only 10,668 vehicles in June, a year-on-year increase of 23.76% and a MoM increase of 5.14%, although Xpeng achieved sales growth for four consecutive months. In the first half of 2024, Xpeng delivered a total of 52,028 new vehicles, a year-on-year increase of 25.57%. To further increase sales, Xpeng has chosen to launch a new sub-brand called "联合作战". It is reported that the first model of Xpeng MONA series, the M03, will debut on July 3rd and will be officially launched in Q3 2024.
As the only new energy auto company that has yet to go public, and having experienced five consecutive months of negative YoY growth, the delivery volume of NIO's Nezha in June was 10,206 units, a year-on-year decrease of 15.88%. Under the current market conditions, this undoubtedly intensifies its need for funds. On June 26th, Nezha's parent company, Hozon New Energy, submitted an IPO application to the main board of the Hong Kong Stock Exchange and is expected to become the fifth new energy auto company to be listed in Hong Kong shares.
"Although the five traditional new energy auto companies achieved MoM growth in June, the differentiation within the internal camps was more apparent." In the view of industry analysts, the above five auto companies can roughly be divided into three "groups". Li Auto is leading the pack, while NIO and Leapmotor are tangled in a sales war, with average monthly sales of around 20,000, forming the second "group". Xpeng and Nezha both hover around the 10,000-unit mark in monthly deliveries, forming the third "group". "Looking forward to the second half of the year, as the number of Li's self-built charging stations grows, it may resume the delivery of pure-electric vehicle modes; NIO's second brand 'Leyo' will be officially launched in the second half of the year; and Leapmotor will use Stellantis for overseas production. Although Xpeng plans to release the first model of the MONA series in the third quarter, it may have a limited contribution to Xpeng's annual sales volume. Against this backdrop, the differentiation of these five new energy auto companies may further intensify."