Chinese Company Xpeng Reports Growth in Feb Electric Vehicles Sales as Other Companies Struggle
Chinese EV maker Xpeng shipped over 30,000 cars for the fourth month in February. According to CNBC, the company delivered a total of 30,453 units of Xpeng electric vehicles to customers last month as its mass-market brand gave it an edge in the now competitive market.
Demand for Low-Priced Models
Xpeng’s monthly deliveries included 15,000 units of lower-priced Mona vehicle models. The Mona M03 model, which comes with a basic driver assist software system, hit the 15,000 unit sales mark per month in December.
According to EV manufacturers, surging demand for driver-assist systems pushed demand for its P7+ electric sedan to over 30,000 units in just 3 months. The company introduced the sedan to the Chinese EV market in November 2024.
Analysts say that Xpeng’s expansion plans to introduce new vehicles to the market have given the EV firm “a good chance to extend its solid delivery momentum.”
China’s automobile market remains competitive as conventional manufacturers and new entrants rush to unveil cars with new tech features and reduce prices. Traditionally, the January-February months tend to be slow for Chinese vehicle sales. This is because the months coincide with its longest annual holiday, the Lunar New Year.
Gradual Growth
China’s EV industry has been experiencing gradual growth with companies reported growth in units sold this month. Smartphone maker Xiaomi shipped over 20,000 EVs for the fifth month last month. Last week, the company reduced the starting price for its EV sedan SU7 Ultra from $111,878 to $72,750.
Following the price drop, analysts say the order situation for the SU7 is much lower compared to actual sales. This means that the only challenge Xiaomi has is its ability to to manufacture more vehicles.
Leading EV giant BYD reported that it sold 318,233 new EV vehicles in February. This number is slightly higher than its January sales. The company announced that it was introducing a driver-assistance system in a range of EVs. The company also plans to integrate AI from DeepSeek. Zeekr, a company owned by Geely sold 14,039 EV units in February compared to 11,942 units it shipped in January 2024.
EV Sales Struggles
Although some Chinese EV brands recorded an increase in sales revenue last month, there are brands whose sales have dipped over time. One of these is Li Auto. EV sales for this company dropped from 29,927 in January to 26,263 units in February. Last month, this company unveiled an exterior design for its initial full battery-electric SUV. Li Auto’s premium-priced EVs have become popular among Chinese buyers because they are fitted with a fuel tank that extends their battery driving range.
The other company that recorded a drop in February sales is Aito. The company, which is owned by the Seres brand that uses Huawei technology, reported the lowest EV sales in February at 21,517 units. Nio also experienced a drop in February. Sales for this EV manufacturer dropped from 13,863 in January to 13,192 units in February. Nio unveiled a 5-year zero interest plan at the beginning of February 1 to boost sales.
