Li Auto Inc. experienced a slight month-on-month decline, but still ranked first with a delivery volume of nearly 0.05 million vehicles. Zeros Run Automobiles had a monthly delivery of over 0.03 million vehicles for the first time, with a year-on-year increase for 16 consecutive months.
Despite July and August being the traditional off-season for the automotive market, the new energy vehicle market in August this year was still extremely active due to the implementation of scrappage subsidies and replacement policies across the country.
On September 1st, the new force in auto manufacturing $Li Auto (LI.US)$ / $LI AUTO-W (02015.HK)$Please use your Futubull account to access the feature.$LEAPMOTOR (09863.HK)$Please use your Futubull account to access the feature.$NIO Inc. USD OV (NIO.SG)$ / $NIO-SW (09866.HK)$Please use your Futubull account to access the feature.$XPeng (XPEV.US)$ / $XPENG-W (09868.HK)$
Li Auto Inc. delivered 48,122 new vehicles in August, a year-on-year growth of 37.8%. As of August 31, 2024, Li Auto Inc. has delivered a cumulative total of 921,467 vehicles, approaching the milestone of one million vehicles delivered.
The contribution of the Li ONE to Li Auto Inc.'s deliveries in August cannot be overstated, as it has exceeded 20,000 vehicles for three consecutive months. However, while the Li ONE has increased Li Auto Inc.'s market share, it has also lowered its average selling price, leading to a decrease in the vehicle's gross margin from 19.3% in the first quarter to 18.7% in the second quarter. In order to further boost the sales volume of the L-series, Li Auto Inc. has adjusted the display of its stores.
"The number of display units in Li Auto Inc.'s stores has increased from 4.6 units per store at the end of 2023 to 5.1 units per store at the end of June 2024, and the plan is to further increase it to 6 units per store by the end of this year." said Zou Liangjun, Senior Vice President of Sales and Service at Li Auto Inc., during the financial report conference call.
Zero Run Automobiles, ranking second in August, delivered 30,305 new vehicles, a year-on-year increase of 113.57% and a month-on-month increase of 37.17%. Among them, the SUV family of Zero Run Automobiles accounted for over 72% of deliveries, with over 8,000 deliveries of the Zero Run C16. While continuously adjusting its product structure, Zero Run Automobiles also plans to further strengthen its overseas market layout. It will debut the first product, the B10, on a brand-new platform at the Paris Motor Show in the fourth quarter. This model is aimed at global young consumers. With the first batch of Zero Run C10 and T03 electric vehicles being shipped from China to Europe in July, Zero Run International is expected to sell Zero Run Automobiles in nine European markets, including France, Italy, Germany, the Netherlands, Spain, Portugal, Belgium, Greece, and Romania, in September; in the fourth quarter, it will enter the Asia-Pacific, Middle East, Africa, and South America.
Despite reducing the discounts at the end of July, NIO Inc. continued to maintain a relatively stable performance in August, delivering 20,176 new cars. In addition to the NIO main brand, the second brand NIO House opened the first batch of 100 stores on September 1. The L60 new car will arrive at the stores and will be launched this month.
Xpeng also hopes to boost sales through its second brand. Xpeng delivered a total of 14,036 new cars in August, achieving a 25.94% increase compared to the previous month, but still lagging behind the three mentioned above. On August 27, the Xpeng MONA M03 was launched, with three models priced between 0.1198 million yuan and 0.1558 million yuan. On August 30, the Xpeng MONA M03 completed the first batch of new car deliveries at the Chengdu Auto Show. It is understood that within 48 hours of the launch of the Xpeng MONA M03, the sales exceeded 30,000 units, which may drive the overall delivery volume of Xpeng.
NIO Inc. delivered 11,005 vehicles in August, a year-on-year decrease of 9.07%; the cumulative sales volume from January to July decreased by 10.37% to 75,790 vehicles. NIO Inc. is currently seeking new breakthroughs. On August 25, the NIO S Hunter was launched, and NIO Inc. has also started pre-sales of the NIO S Hunter pure electric CIIC 800V version, the world's first model developed and manufactured based on the CIIC integrated intelligent chassis and 800V high-voltage platform in cooperation with Contemporary Amperex Technology.
After passing through the traditional off-season of the automobile market, with the continued deepening of the nationwide policies for trading in old vehicles for new ones, and the arrival of the peak car-buying season in September and October, it can be expected that the September new energy vehicle market, including emerging car manufacturers, will become more active.
Editor/Somer