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TMTPOST -- Chinese electric vehicle (EV) makers led by BYD Co. Ltd. finished the year 2024 with new monthly records, maintaining double-digit delivery grwoth till the year end.
Credit:BYD
BYD said it sold 514, 809 new energy vehicles (NEVs), including electric and plug-in hybrid vehicles, in December with a year-over-year increase of around 51%. China’s No.1 NEV manufacturer broke its sales record for seven months in a row after BYD became the first Chinese automaker to sell more than 500,000 cars in a month in October.
With a 41.26% increase in sales from a year ago, BYD sold more than 4.27 million NEVs for the whole year 2024 , representing average daily sales of 11,700 units. That even surpassed sales of many emerging EV startups in a week. BYD cemented its leadership by sales among Chinese automakers for the year after it gained throughout November. BYD sales from January to Novembergained 40.02% YoY to 3,757,336 units.
During the year 2024, BYD annual sales for the first time topped other China’s automakers after SAIC Motor Corp. Ltd. held its crown as top-selling Chinese automaker for the 18th consecutive year. The state-owned SAIC sold 5.02 million vehicles in 2023, nearly 2 million vehiles more than BYD annual sales that year, according to data released by these two companies. However, BYD overtook SAIC a year later as annual sales of the latter were 259,100 vehicles less than the former.
Four BYD’s Chinese EV peers--Zhejiang Leapmotor Technologies Ltd., Li Auto Inc., Xpeng Inc. and Nio Inc. also shattered their monthly records in December. Leapmotor delivery surged 128% YoY to 42,517 units in December, extending its record-breaking streak from June. The Stellantis NV's Chinese partner shipped nearly 300,000 EVs with a YoY increase of more than 10%. It became the first Chinese EV startups that met its annual sales target earlier, and will challgence a 500,000-unit target for the year 2025.
Li Auto recorded delivery of 58,513 vehicles in December, hitting new record with a 16.2% YoY increase. The new record a 20% month-over-month (MoM) rise in delivery, reversing the sequential decline for a second straight month. Total deliveries for the full year of 2024 reached 500,508 vehicles, bringing the company’s cumulative deliveries to 1,133,872 units. Li Auto’s monthly record also represents a milestone. The company has achieved annual deliveries of over 500,000 vehicles within just five years since its first delivery, setting the record for the fastest growth among premium auto brands in the Chinese market.
Xpeng delivered 36,695 EVs in December, refreshing its monthly record for fourth consecutive month. The new record represented a 82% YoY increase and increased 19% from the previous record set in November. December saw deliveries of artificial intelligence (AI)-powered Mona M03, a Tesla Model 3 rival, exceeded 15,000 units, and Xpeng P7+, the world’s first vehicle to feature built-in AI-powered advanced Advanced Driver Assistance Systems (ADAS) across the entire lineup, topped 10,000 units. Xpeng delivered a total of 190,068 units with an increase of 34% for the year 2024.
Nio for the first time delivered more than 30,000 EVs in a month, with a delivery of 31,138 vehicles in December. That suggested a 72.9% YoY increase and a MoM increase of 51.3%. The deliveries consisted of 20,610 vehicles from Nio’s premium smart electric vehicle brand Nio, and 10,528 vehicles from its family-oriented smart EV brand ONVO. Nio also hit its quarterly record, delivering 72,689 EVs in the fourth quarter with a YoY 45.2% increase. For the full year of 2024, the company delivered 221,970 vehicles, reflecting an increase of 38.7% from the previous year.