Tagged: China

XPeng to report Q1 earnings on May 24

XPeng delivered 18,230 vehicles in the first quarter, slightly above the lower end of its guidance range of 18,000 to 19,000 vehicles.  |  XPeng US | XPeng HK

XPeng to report Q1 earnings on May 24-CnEVPost

XPeng (NYSE: XPEV) today announced that it will report its unaudited first quarter financial results on Wednesday, May 24, before the US market opens.

Previously released data showed that XPeng delivered 18,230 vehicles in the first quarter, slightly above the lower end of its guidance range of 18,000 to 19,000 vehicles.

The company previously guided for first-quarter revenue of RMB 4 billion to RMB 4.2 billion, a decrease of about 43.7 percent to 46.3 percent year on year.

XPeng sales have been weak since the second half of last year, with deliveries of just 5,218 units in January. The figure rebounded to 7,079 units in April, flat from March.

The P7i sports sedan, launched in March, continues to gather strong order momentum, XPeng said on May 1, adding that the company is significantly increasing production, which will accelerate customer deliveries of the P7i in the near future.

XPeng unveiled the new SUV G6 on April 18, the first day of the Shanghai auto show, which is based on the 800 V high-voltage platform and can get 300 kilometers of range in as little as 10 minutes on a charge.

The debut of the G6 drew great enthusiasm from visitors at the auto show, making XPeng's stand one of the most popular at the event, the company said on May 1.

The model is scheduled to be officially launched at the end of the second quarter and delivered immediately thereafter, XPeng said, repeating its previous plan.

Following the first-quarter earnings announcement, XPeng management will host an earnings call on May 24 at 8:00 a.m. US Eastern Time (8:00 pm Beijing Time on May 24).

Participants who wish to participate in the conference call by telephone can complete pre-registration by visiting the link provided below.

Pre-registration link:

https://s1.c-conf.com/diamondpass/10030387-tfg8sj.html

In addition, a live and archived webcast of the conference call will be available on the company's investor relations website at http://ir.xiaopeng.com.

A replay of the conference call will be available about one hour after the conference call, through May 31, 2023, by calling the following telephone numbers:

United States: +1-855-883-1031

International: +61-7-3107-6325

Hong Kong, China: 800-930-639

Chinese mainland: 400-120-9216

Replay PIN: 10030387

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China passenger NEV retail drops 3.6% MoM to 527,000 in Apr, CPCA data show

China's NEV penetration at retail was 32.3 percent in April, up 6.6 percentage points from 25.7 percent in April 2022 but lower than 34.2 percent in March.

Retail sales of new energy passenger vehicles (passenger NEVs) in China were 527,000 units in April, up 85.6 percent year-on-year but down 3.6 percent from March, according to data released today by the China Passenger Car Association (CPCA).

This was lower than the CPCA's preliminary figure of 529,000 units released on May 6 and higher than its estimate of 500,000 units released on April 25.

Battery electric vehicle (BEV) retail sales in April were 370,000 units, accounting for 70.2 percent of all NEV retail sales. This represents a 73.5 percent year-on-year increase and a 4.3 percent decrease from March.

Plug-in hybrid (PHEV) retail sales in April were 157,000 units, contributing 29.8 percent of NEV retail sales, up 122.0 percent year-on-year and down 1.8 percent from March.

Retail sales of all passenger vehicles in China were 1.63 million units in April, up 55.5 percent year-on-year and up 2.5 percent from March.

Notably, this is the second time since 2010 that China's retail vehicle sales were higher in April than in March, the CPCA said.

The penetration of NEVs at retail in China was 32.3 percent in April, up 6.6 percentage points from 25.7 percent in April 2022 but down from 34.2 percent in March.

The penetration rate of NEVs was 56.5 percent for local brands, 23.8 percent for luxury brands and 4.4 percent for mainstream joint venture brands.

Wholesale sales of passenger NEVs in China were 607,000 units in April, up 115.6 percent year-on-year but down 1.7 percent from March.

This means that the penetration of NEVs at wholesale was 33.9 percent in April, up 5.9 percentage points from 28 percent penetration in April 2022 and up from 31 percent in March.

China's local brands had 49.5 percent penetration of NEVs at wholesale in April, compared to 35.5 percent for luxury brands and 4.1 percent for mainstream joint venture brands.

China exported 91,000 passenger NEVs in April, with BEVs accounting for 92.8 percent of the total. This represents a year-on-year increase of 1028.5 percent, up 29.4 percent from March, and contributes 31 percent of all passenger car exports.

China exported 35,886 units in April, SAIC passenger cars 21,450 units and BYD 14,827 units, the CPCA said.

Tesla delivers 39,956 vehicles in China in Apr, exports 35,886 units from Shanghai plant

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Tesla delivers 39,956 vehicles in China in Apr, exports 35,886 units from Shanghai plant

Including exports, China-made Model 3 and Model Y sales in April were 26,783 and 49,059 vehicles, respectively, according to the CPCA.  |  TSLA.US

Tesla delivers 39,956 vehicles in China in Apr, exports 35,886 units from Shanghai plant-CnEVPost

Tesla (NASDAQ: TSLA) sold 75,842 China-made vehicles in April, including 35,886 units exported, according to data released today by the China Passenger Car Association (CPCA).

This means that Tesla delivered 39,956 vehicles in China in April, with 47.32 percent of the vehicles produced at the Shanghai plant being exported.

Tesla delivers 39,956 vehicles in China in Apr, exports 35,886 units from Shanghai plant-CnEVPost

By comparison, Tesla delivered just 1,512 vehicles in China last April, when none were exported, due to the Covid lockdown in Shanghai.

The US electric vehicle maker's factory in Shanghai currently produces only the Model 3 and the Model Y. Including exports, the two models sold 26,783 and 49,059 units in April, according to the CPCA.

The breakdown figures of Model 3 and Model Y sales in China are expected to be available in a few days.

Tesla delivers 39,956 vehicles in China in Apr, exports 35,886 units from Shanghai plant-CnEVPost

Retail sales of new energy vehicles (NEVs) in China in April were 527,000, with 370,000 battery electric vehicles (BEVs) sold, according to the CPCA.

This means that Tesla's share of the NEV market in China in April was 7.58 percent and its share of the BEV market was 10.80 percent. These two figures were 14.12 percent and 20.02 percent respectively in March.

Tesla delivers 39,956 vehicles in China in Apr, exports 35,886 units from Shanghai plant-CnEVPost

It is worth noting that Tesla's model is to produce cars for export in the first half of the quarter and for the local market in the second half.

Tesla slightly raised the prices of all its available models in China earlier this month, which the CPCA believes will be helpful in boosting sales.

Tesla's price increase is a good signal to dispel the wait-and-see mentality of consumers who are overly expecting price cuts, the CPCA said in a report today.

On May 2, the prices of the Model 3 and Model Y were all raised by 2,000 yuan ($290) in China, an increase of less than 1 percent.

On May 5, prices for the full lineup of the new Model S and Model X, which are not manufactured in China, were all raised by RMB 19,000.

(1 $= RMB 6.9274)

Tesla hikes Model 3, Model Y prices slightly in China

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SAIC-GM-Wuling to launch new mini EV Baojun Yep on May 25

SAIC-GM-Wuling's Baojun brand has released several images of the Yep, showing the model somewhat similar to the Suzuki Jimny.

SAIC-GM-Wuling to launch new mini EV Baojun Yep on May 25-CnEVPost

(Image credit: Baojun)

SAIC-GM-Wuling will soon release a new model, as the mini electric vehicle (EV) specialist continues to deepen its expertise in the field.

The automaker's Baojun brand announced on Weibo today that it will launch a new mini EV model, the Baojun Yep, on May 25.

Baojun unveiled its new logo earlier today, saying that the Yep will be the first model to use the new logo.

SAIC-GM-Wuling to launch new mini EV Baojun Yep on May 25-CnEVPost

The brand began previewing the Baojun Yep last week, releasing several images of the car's exterior that show the model somewhat resembling the Suzuki Jimny.

The Baojun Yep has a length, width and height of 3,381 mm, 1,685 mm and 1,721 mm, respectively, and a wheelbase of 2,110 mm, previous regulatory filings showed.

SAIC-GM-Wuling to launch new mini EV Baojun Yep on May 25-CnEVPost

For comparison, SAIC-GM-Wuling's other model, the Hongguang Mini EV, has a length, width and height of 3,059 mm, 1,521 mm and 1,614 mm, respectively, and a wheelbase of 2,010 mm.

The Baojun Yep will be powered by a permanent magnet synchronous motor with a peak power of 50 kW and a peak torque of 140 Nm.

The model has a battery pack capacity of 28.1 kWh and a CLTC range of 303 km.

SAIC-GM-Wuling to launch new mini EV Baojun Yep on May 25-CnEVPost

In addition to the regular version, Baojun shared images of a two-door pickup version of the Yep on Weibo yesterday, a move similar to SAIC-GM-Wuling's launch of a convertible version of the Mini EV in September 2022.

SAIC-GM-Wuling to launch new mini EV Baojun Yep on May 25-CnEVPost

SAIC-GM-Wuling to launch new mini EV Baojun Yep on May 25-CnEVPost

SAIC-GM-Wuling is a joint venture between SAIC, General Motors and Liuzhou Wuling Automobile, headquartered in Liuzhou in southwestern China's Guangxi Zhuang Autonomous Region.

It sells vehicles based on the GSEV (Global Small Electric Vehicle) architecture in China, including the Mini EV, KiWi EV, Nano EV and Air EV. In addition to these pure electric models, SAIC-GM-Wuling also sells fuel-powered SUVs, MPVs and vans.

In the small EV segment, in addition to the hot-selling Mini EV, SAIC-GM-Wuling launched the Air EV in China in December last year and the Binguo EV at the end of March this year.

SAIC-GM-Wuling sold 77,701 new energy vehicles (NEVs) in the first quarter, 69,842 of which were Mini EVs, according to the China Passenger Car Association (CPCA).

SAIC-GM-Wuling launches new EV model, price from $8,680

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Exclusive: NIO ET5 touring appears in Europe as local launch nears

The ET5 touring, the first of its kind to target the premium electric touring segment, may debut in Europe in June.

Exclusive: NIO ET5 touring appears in Europe as local launch nears-CnEVPost

(Image obtained by CnEVPost)

A more European-centric variant of NIO's (NYSE: NIO) ET5 electric sedan is getting closer to its official launch.

A NIO ET5 touring, the first of its kind to target the premium electric touring segment, has been spotted on the streets of Europe, according to spy photos obtained by CnEVPost today.

The car has the yellow color exclusive to the ET5 sedan sold in China, while its rear design clearly shows that it is a touring, or hatchback, style vehicle.

Exclusive: NIO ET5 touring appears in Europe as local launch nears-CnEVPost

(Image obtained by CnEVPost)

NIO will launch a touring version of the ET5, the ET5's sister model, in June or July, the electric vehicle (EV) maker's co-founder and president Qin Lihong said at an event in January, as previously reported by CnEVPost.

The touring variant of the ET5 will debut in Europe, and the model is developed primarily for European consumers, Qin said at the time.

CnEVPost has learned from a source that the model is expected to make its official debut in Europe in June. ET5 touring was previously referred to as ET5 shooting brake on many occasions.

Touring models have a large market in Europe, while sales of sedans are low, which is the opposite of the situation in China, Qin said at the January event.

"Sedan derivatives are a niche market in China, but the opposite is true in Europe. We don't see many real sedans in Europe," he said at the time.

The ET5 is the cheapest of the NIO product array, starting at 328,000 yuan ($47,410) in China.

The model's support for battery swap and beautiful design have made it a major contributor to NIO's sales in the past few months, selling around 6,000 units each month from January to March.

Exclusive: NIO ET5 touring appears in Europe as local launch nears-CnEVPost

For NIO, the ET5 touring is likely to be the game changer for the company to see sales really start to grow in Europe, as local consumers prefer this kind of sedan variant.

It is worth noting that the ET5 touring will be available in China in addition to for European consumers.

At the beginning of March, the car appeared in a regulatory catalog of models that will be allowed to be sold in China, showing its exterior and core specifications.

($1 = RMB 6.9180)

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Denza shows interior details of new SUV N8

Denza posted images on Weibo today showing the N8 with a large glass roof, a large center screen and rear tabletops.

Denza shows interior details of new SUV N8-CnEVPost

(Image credit: Denza)

BYD's premium new energy vehicle (NEV) brand Denza has unveiled the interior design of the Denza N8, as it ramps up its preview of the new SUV.

Images posted by Denza on Weibo today show the N8 with a large glass roof, a large center screen and rear tabletops.

In China's increasingly competitive electric vehicle (EV) market, automakers are racing to offer features that will provide consumers with more convenience in their driving experience.

Denza shows interior details of new SUV N8-CnEVPost

Denza was formed in February 2011 as a joint venture between BYD and Daimler, each holding a 50 percent stake, and Daimler was rebranded as Mercedes-Benz in February 2022.

BYD's stake in Denza increased to 90 percent last year, and Mercedes-Benz's stake decreased to 10 percent.

Denza is currently offering only the D9, an MPV that went on sale in August 2022 and began deliveries in October last year.

The N8 will be the third model in the rebranded Denza, with the second model, the N7, to be released in the first half of this year. The release date for the N8 has not yet been announced.

Denza shows interior details of new SUV N8-CnEVPost

On March 29, Denza unveiled the exterior of the N8, which will carry over much of the design of the discontinued Denza X.

On April 11, the Denza N8 appeared in a catalog of models that will soon be allowed to be sold in China, published by the Chinese industry regulator.

The Denza N8 entered the catalog in four versions, including a single-motor all-electric version, a two-motor all-electric version, a DM-i plug-in hybrid version, and a DM-p plug-in hybrid version.

The single-motor version is equipped with a 230-kW peak power motor, and the dual-motor version has 230-kW and 200-kW peak power front and rear motors, respectively.

The model's length, width and height are 4,949 mm, 1,950 mm and 1,725 mm, respectively, with a wheelbase of 2,830 mm, according to the filing.

Denza shows interior details of new SUV N8-CnEVPost

Denza delivered 10,526 vehicles in April, up 1.23 percent from 10,398 in March.

Denza has a chance to see monthly sales of more than 20,000 units this year, said Zhao Changjiang, general manager of the company's sales division, on Weibo on May 7.

Denza's new SUV model N7, which is on pre-sale, is expected to receive more than 6,000 new orders this month and is expected to reach 30,000 orders before its official launch, Zhao said.

Denza could see monthly sales of over 20,000 units this year, exec says

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Neta launches new variants of Neta S flagship sedan to bring price lower

Neta has launched two new variants of the Neta S with a shorter range and weaker performance, bringing the starting price of its flagship sedan down to under RMB 200,000.

Neta launches new variants of Neta S flagship sedan to bring price lower-CnEVPost

(Neta S on 2023 Shanghai auto show. Image credit: CnEVPost)

Price cuts are tricky in China's electric vehicle (EV) market, as they can spark protests from existing owners. So, launching lower-priced versions based on existing models has become one option for EV makers that need to boost sales.

Neta Auto, the EV brand owned by Hozon Auto, today launched two new variants of its flagship sedan, the Neta S, bringing the model's starting price down by 13,000 yuan ($1,880) to under RMB 200,000.

The new variants -- the all-electric Neta S 520 Lite and Neta S 520 -- start at RMB 189,800 and RMB 199,800 respectively.

As a comparison, the least expensive version of the Neta S previously on sale was a model with extended-range technology, starting at RMB 202,800.

The lowest-priced version of the pure electric Neta S was previously available in a version with a CLTC range of 715 km, starting at RMB 248,800.

The Neta S 520 Lite and Neta S 520 both have a CLTC range of 520 km and use a lithium iron phosphate battery pack with a capacity of 64.46 kWh.

These lower-priced Neta S BEVs can accelerate from 0 to 100 km/h in 7.4 seconds.

For comparison, the least expensive Neta S BEV with a range of 715 km uses a ternary lithium battery pack with a capacity of 84.50 kWh and can accelerate from 0 to 100 km/h in 6.9 seconds.

The Neta S 520 Lite and Neta S 520 are also weaker than the previously available Neta S BEV in some other specifications, such as the absence of a hands-free power tailgate.

Neta has been considered a budget EV maker since its inception, as its vehicles are priced primarily at the lower end of the market, with the Neta V and Neta U priced at around RMB 100,000 to RMB 150,000.

The Neta S is its first effort at the premium end of the market, officially launched in China on July 31, 2022.

Neta delivered 11,080 vehicles in April, up 25.72 percent from 8,813 in the same month last year and up 9.84 percent from 10,087 in March, according to data released earlier this month.

Neta S delivered 2,237 units in April, up 1.41 percent from 2,206 units in March.

In January-April, Neta delivered 37,256 vehicles, down 4.39 percent from 38,965 in the same period last year.

The Neta S delivered 8,008 units in January-April, for a cumulative total of 10,213 units since deliveries began last October, data monitored by CnEVPost show.

($1 = RMB 6.9240)

Neta delivers 11,080 vehicles in Apr, up 9.8% from Mar

Neta launches new variants of Neta S flagship sedan to bring price lower-CnEVPost

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NIO ES7 wait time gets slightly longer

The ES7's current expected delivery date is about 4 weeks, up from about 3 weeks previously.

NIO ES7 wait time gets slightly longer-CnEVPost

(Image credit: CnEVPost)

NIO's (NYSE: NIO) ES7 SUV has seen slightly longer wait times in China. Late last month some owners of the model voiced their displeasure as the new ES6 is coming.

The ES7's current expected delivery date is about 4 weeks, up from about 3 weeks previously, information from the NIO App monitored by CnEVPost shows.

The last change in the information was on April 25, when the model's wait time was reduced from 3 to 5 weeks to about 3 weeks.

NIO ES7 wait time gets slightly longer-CnEVPost

(Screenshot on May 9.)

The NIO ES7, launched on June 15, 2022, is NIO's second model based on the NT 2.0 platform and is the first SUV on this second-generation platform.

NIO began deliveries of the ES7 on August 28, 2022, with a cumulative total of 15,123 units delivered by the end of January this year, according to data monitored by CnEVPost.

Late last month, many ES7 owners formed WeChat groups in order to jointly protest to NIO arguing that the automaker betrayed them because the new ES6 will not only have lower prices, but also have a competitive edge with their vehicles.

NIO officially launched the 2023 ET7 sedan and gave the improved ES6 its debut on the first day of the Shanghai auto show on April 18.

The new ES6 is already available for pre-order, but the official launch will be in late May. William Li, NIO founder, chairman and CEO, said previously the model will move quickly from official launch to delivery.

NIO's website and app currently showcase seven models -- the new ES8, ES7, new ES6, EC7, EC6, ET7, and ET5.

In the vehicle configurator of NIO App, there are 5 models available -- new ES8, ES7, EC7, ET7, ET5, and the configurator of new ES6 and EC6 based on NT 1.0 platform is not available.

Wait time information for all other NIO models remains unchanged, with the new ES8 still showing deliveries expected to begin in June, the EC7 wait time around 5 weeks, the ET7 around 3 weeks, and the ET5 around 2 weeks.

Below is CnEVData's redesigned tracking table for NIO model wait times, you can subscribe to see the details.

NIO model wait time update: ES7 gets longer

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