China’s premium EV makers Li Auto, Xpeng and Nio ride discounts to strong monthly sales

Quick Summary:

Nio, BYD and Zeekr all reported record sales in June, while Li Auto just missed a record, but analysts said the reliance on discounts clouds the profitability forecast.

A photo taken on April 18, 2023, shows a Li Auto L7 on display during the 20th Shanghai International Automobile Industry Exhibition in Shanghai.

Nio’s incentives to encourage use of its battery swap technology, which started in May, continued to help the company lure new buyers.

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Article Details

Author / Journalist: Daniel Ren

Category: Business

Markets: Hong KongChinaIndonesiaMalaysiaThailandUnited States

Topics: Incentives 2023 Cent June Deliveries Battery Makers Sales Vehicles Month Premium

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-01 @ 21:00:23 (2 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 617 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21441585

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