Tesla sold 3,200 units last week, Nio 3,100 and Xpeng 1,200.
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Category: XPeng
Xpeng Jun sales breakdown: P7 contributes 60.28% with 5,196 units
The Xpeng G9 sold 1,025 units in June, the P5 1,721 units and the G3 series 434 units.
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Xpeng starts deliveries of new SUV G6 in China
The G6 has received many orders, which would help Xpeng see monthly deliveries reach 15,000 units in the third quarter and 20,000 units in the fourth quarter, an executive previously said.
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Xpeng partners with local dealer to tap Israel market as it steps up efforts in global arena
EV buyers in Israel currently enjoy a 20 percent purchase tax, well below the 83 percent for regular gasoline vehicles.
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Xpeng G6 rumored to get 28,000 firm orders in 4 days after launch
Never before has any Xpeng model been so popular, said a store employee, according to a local media report.
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Xpeng (NYSE: XPEV) previously announced pre-orders for its new SUV, the G6, but did not mention firm orders for the model after its official launch. Now, a new report provides some reference.
As of July 3, the Xpeng G6 had received about 28,000 firm orders with non-refundable deposits in China, just four days after the model's official launch on June 29, according to a report today from local automotive outlet D1EV.
Staff at an Xpeng store in Beijing said that never before has any other model from the company been so popular, according to the report.
Judging by the Xpeng G6's performance in Tier 1 and Tier 2 cities, the overall conversion rate of pre-orders to firm orders reached 60 percent, the report said.
The model performs better in Tier 1 cities, which are more friendly to new energy vehicles (NEVs), with one store in Beijing already having more than 300 orders for the Xpeng G6, according to the report.
The most popular version of the Xpeng G6 is the 755 Max version, followed by the 580 Max, and they both come with XNGP driver assistance software, the report said, adding that this reflects the appeal of the assisted driving capability to customers.
Xpeng officially launched the G6 in China on June 29, offering five versions, including two Pro versions as well as three Max versions, the former with the Xpilot assisted driving software only and the latter with the more powerful XNGP.
The five versions start at RMB 209,900 ($28,960), RMB 229,900, RMB 234,900, RMB 254,900 and RMB 276,900 respectively.
Xpeng began pre-sales for the G6 on June 9 and subsequently announced that the model had received more than 25,000 pre-orders within 72 hours.
He Xiaopeng, the company's chairman and CEO, said at the model's launch event that the G6 had more than 35,000 pre-orders as of June 28 since it began pre-sales on June 9.
The G6 is expected to become the top-selling smart electric SUV priced at the RMB 250,000 level in China within two months, he said.
While the G6 has received good initial acceptance, Xpeng needs to ramp up production capacity soon to avoid long waits that could lead to potential orders being lost.
Customers have been very enthusiastic about the G6, and those who order it now will have to wait about 10 weeks, Brain Gu, Xpeng's vice chairman and president, told English-language media reporters, including CnEVPost, at an online conference Wednesday night.
Xpeng wants shorter and shorter delivery cycles for the G6, but right now the model still needs capacity ramp-up, Gu said.
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Xpeng works to boost capacity as G6 wait time exceeds 10 weeks
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Carmakers, including Tesla, BYD, Nio, Xpeng, Li Auto, pledge to jointly maintain order in China auto market
These car companies have pledged to regulate their marketing activities and not to disrupt the order of fair competition in the market with abnormal prices.
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More than 10 car companies, including major electric vehicle (EV) startups, have pledged to jointly maintain a fair market order in China's auto market, at a time when the EV industry is growing rapidly.
At the 2023 China Auto Forum in Jiading, Shanghai, today, the China Association of Automobile Manufacturers (CAAM) and 16 major automakers signed a pledge to uphold fair market order in the automotive industry.
This is to maintain a good auto market order, jointly create a good consumer environment, and actively stabilize and promote auto consumption, they said at the conference.
The car companies that signed the commitment include:
China FAW, Dongfeng Motor, SAIC, Changan Automobile, BAIC, GAC, China National Heavy Duty Truck, Chery, JAC, Geely, Great Wall Motor, BYD, Nio, Li Auto, Xpeng, and Tesla.
The following is the main content of the commitment letter:
First, we will abide by the rules and regulations of the industry, regulate marketing activities, maintain a fair competition order, and not disrupt the fair competition order of the market with abnormal prices.
Second, we will pay attention to marketing methods, will not exaggerate or conduct false marketing, not to mislead consumers to attract attention and increase customer acquisition.
Third, we will put quality first, use quality-oriented, high-quality products and services to meet the people's needs for a better life.
Fourth, we will actively fulfill our social responsibility, and take an active role in helping to stabilize economic growth, increase confidence and prevent risks, and work together to make a contribution to national economic growth.
It should be noted that the commitment is self-regulatory and not legally binding, and it was signed after the price war at the beginning of the year and the emergence of a war of words between several EV companies and their supporters.
Since early March, a rare price war has erupted in China's auto industry, which has not boosted sales but has instead triggered a wait-and-see mood among consumers, resulting in car sales not seeing an increase.
On March 22, the CAAM called for the hype about price cuts in China's auto industry to cool down to return the industry to normal operation and ensure healthy and stable development of the industry throughout the year.
After that, the price war in China's auto industry gradually subsided.
It is worth noting that although these car companies pledged today not to disrupt the fair order with abnormal prices, it does not mean that they cannot cut prices when facing future challenges.
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Xpeng works to boost capacity as G6 wait time exceeds 10 weeks
As of July 5, Xpeng's US-traded ADR was up about 75 percent cumulatively since June 9, when the G6 began pre-sales.
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Xpeng's (NYSE: XPEV) new SUV, the G6, has received good initial acceptance and now the company has an important task: ramping up production capacity as soon as possible.
Customers have been very enthusiastic about the G6, and those who order it now will have to wait about 10 weeks, Brain Gu, Xpeng's vice chairman and president, told English-language media reporters, including CnEVPost, at an online conference Wednesday night.
Xpeng wants shorter and shorter delivery cycles for the G6, but right now the model still needs capacity ramp-up, Gu said.
He mentioned that the G6 has received a significant number of orders, which would help Xpeng see monthly deliveries reach 15,000 units in the third quarter and 20,000 units in the fourth quarter.
Xpeng officially launched the G6 in China on June 29 with a starting price of RMB 209,900 ($28,980), significantly lower than the starting price of RMB 263,900 for the Tesla (NASDAQ: TSLA) Model Y, its main competitor, in China.
The company began pre-sales for the G6 on June 9 and later announced that the model had received more than 25,000 orders within 72 hours.
At the launch event on June 29, Xpeng chairman and CEO He Xiaopeng said the G6 had more than 35,000 pre-sales orders as of June 28 since the pre-sale.
The G6 is expected to become the top-selling smart electric SUV priced at the RMB 250,000 level in China within two months, he said at the time.
In an interview with local media following the G6 launch, Mr. He said the G6's monthly sales target is at least 10,000 units.
CnEVPost's latest look at the Xpeng app shows that the G6's lower-priced Pro versions all currently have an estimated wait time of 10 weeks, while the Max versions all have 12 weeks.
As the electric vehicle industry in China becomes more competitive, quick deliveries are important to capitalize on the initial hype of new models.
Xpeng's local peer Li Auto (NASDAQ: LI) has proven this to be true, with its three models -- the Li L7, Li L8 and Li L9 -- all currently having 2-4 week wait times.
Nio (NYSE: NIO) also learned its lesson when it launched several new models this year, with deliveries of the new ES6 starting the night it was launched on May 24 and the ET5 Touring on June 16, the day after its launch.
Although the G6 is seen as critical to Xpeng, the company's management believes a car company cannot bet its future on just one model.
In the auto industry, carmakers need to think long-term and be systematically competitive, Mr. He said earlier this month.
Investors are clearly bullish on the G6's potential, with Xpeng's US-traded ADRs up about 75 percent cumulatively as of July 5 since the G6 began pre-sales on June 9.
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Xpeng delivers 8,620 vehicles in Jun, Q2 deliveries exceed guidance range
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China NEV insurance registrations for week ending Jul 2: BYD 54,000, Nio ES6 1,900
The Tesla Model Y was the best-selling new energy SUV and the Model 3 was the best-selling new energy sedan in China last week.
Li Auto (NASDAQ: LI) yesterday shared the insurance registrations of some of the car companies last week to showcase its leadership among the new car-making brands.
Local auto media outlet Dongchedi then shared the rankings they produced, providing more details.
It should be noted that the two shared slightly different data on a few of the car companies' numbers, although the differences were minor, which may have to do with their rounding practices.
In the week between June 26 and July 2, BYD (OTCMKTS: BYDDY) had the highest number of new energy vehicle (NEV) insurance registrations in China at 54,000, according to what Dongchedi shared.
Tesla was in second place at 17,300 units. Tesla was 17,400 units in the data shared by Li Auto yesterday.
GAC Aion was in third place with 11,600 units last week, and Li Auto was fourth with 6,500 units.
Volkswagen's NEV sales were 3,900 units last week, ranking 8th, according to Dongchedi.
When considering only Chinese brands, BYD, GAC Aion and Li Auto were the top three, with Nio (NYSE: NIO) in sixth place.
The Tesla Model Y was the best-selling new energy SUV in China last week with 10,800 units sold. BYD Yuan Plus and BYD Song Plus DM-i were second and third, respectively, with 6,200 and 5,700 units sold.
Li Auto's Li L7 sold 2,800 units last week, ranking 7th.
Nio's ES6 was No. 10 at 1,900 units. The new ES6 was officially launched on May 24 and still seems to be in the capacity ramp-up phase.
The Tesla Model 3 sold 6,400 units last week and was the best-selling new energy sedan in China, according to data shared by Dongchedi.
BYD Dolphin came in second with 6,100 units and GAC Aion S was third with 6,000 units.
China NEV insurance registrations for week ending Jul 2: Tesla 17,400, Li Auto 6,500, Nio 4,100
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Li Auto raises H2 sales forecast to about 240,000 units, report says
Nio has given its supply chain a full-year sales forecast of 240,000 units, according to local media.
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Li Auto (NASDAQ: LI) has updated its second-half sales forecast after seeing strong growth in the first half of the year, a new report said.
Li Auto has told its supply chain that it is raising its second-half sales forecast to about 240,300 units, local media outlet 36kr reported today.
The extended-range electric vehicle (EREV) maker expects average monthly sales of more than 35,000 units in the third quarter and more than 42,000 units in the fourth quarter, according to the report.
Li Auto is on track to see sales of more than 380,000 units for the full year, far exceeding the 300,000 sales target set at the beginning of the year, considering it delivered 139,000 units in the first half of the year, according to the report.
Li Auto's three SUVs currently on sale -- the Li L7, Li L8 and Li L9 -- are all EREVs, which are essentially plug-in hybrids aimed at a larger market than pure electric vehicles.
In June, Li Auto delivered 32,575 vehicles, bringing first-half deliveries to 139,117 units, up 130.31 percent year-on-year, according to data released earlier this month.
Last week -- June 26 to July 2 -- Li Auto sold 6,500 units, down 13.33 percent from 7,500 units the week before, according to data shared by the company yesterday.
The drop in sales last week was due to its factory being closed for two days during the week of the Dragon Boat Festival, one more day than normal, resulting in 6,388 units produced that week, Li Auto founder, chairman and CEO Li Xiang said on Weibo yesterday.
This year's Dragon Boat Festival holiday was from June 22 to June 24.
Li Auto's current vehicles are produced at its factory in Changzhou, Jiangsu province, which Li previously mentioned has six days of production per week as well as one day of overhaul.
A total of 7,500 vehicles per week is the limit of Li Auto's current production, and the reduced production from the holiday was reflected in last week's deliveries, he said.
Starting in the second week of July, Li Auto will increase its weekly production capacity from 7,500 to 8,000 units, and the change in deliveries from this will come in the third and fourth weeks of July, he said.
Late last month, a 36kr report said Li Auto had raised its full-year sales target to 400,000 units from the original 300,000, but this was later denied by Li.
Li Auto finished the first half of the year with more than 130,000 units sold and does not have any ability to make it to 400,000 units for the full year, he said at the time.
Li Auto's battery-electric vehicle (BEVs)-focused local peers Nio (NYSE: NIO) and Xpeng (NYSE: XPEV) have both largely completed product switches recently and are expected to see higher sales in the second half of the year.
Nio has given its supply chain a full-year sales forecast of 240,000 units, the 36kr report said today.
Nio management has previously said the company was aiming to double its sales this year compared to last year. It sold 122,486 vehicles last year and sold 54,561 vehicles in the first half of this year.
Nio will need to sell an average of at least 31,000 vehicles per month in the second half of the year if it is to achieve full-year sales of 240,000 vehicles.
Xpeng has previously mentioned that the goal is to see cumulative deliveries of more than 450,000 vehicles by the end of this year, implying a sales target of about 200,000 vehicles this year.
The company has seen weak sales over the past year, though deliveries have been improving month by month so far this year, with 8,620 vehicles delivered in June.
Xpeng delivered 41,435 vehicles in the first half of the year, and to see full deliveries reach 200,000 would mean it would need to deliver an average of more than 26,000 vehicles per month in the second half.
Xpeng officially launched its new SUV, the G6, on June 29, and its chairman and CEO, He Xiaopeng, said the monthly sales target for the model is at least 10,000 units.
Li Auto delivers record 32,575 vehicles in Jun, aims for 40,000 monthly deliveries in Q4
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Xpeng G6 received 40 pre-orders per store in first 72 hours after the launch in China
The Xpeng G6 was launched in China with a 755-km range and a starting price of 29,100 USD. In 72 hours, it attracted up to 11,520 pre-orders.
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