Some Chinese electric vehicle makers reported healthy deliveries in November, while others saw moderation. However, both NIO (NIO, Financial) and Li Auto (LI, Financial) delivered fewer vehicles in November compared to October, despite record sales from BYD (BYDDY, Financial), XPeng (XPEV, Financial), and Zeekr (ZK, Financial)

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BYD took the leadership with 506,804 vehicles sold, a 67.9% year over year increase and a 0.8% increase compared to the previous month. This included 305,938 plug-in hybrids and 198,065 fully battery electric vehicles (BEVs).

XPeng deliveries also rose to 30,895 vehicles, up from 52% a year earlier, mainly because of the success of the Mona M03 hatchback. EV rival Zeekr was equally impressive, selling 16,700 units, an 81% increase compared to the same period last year.

On the other hand, Deliveries in Li Auto shrank by 5.3% from October to 48,740 but registered an Annual growth of 18.8%. Nio delivered 20,575 vehicles, a slight progression from the previous month's performance, marking seven straight months above 20,000 vehicle sales but lower than the previous month.

The competitive rivalry in China concerning EVs is still intense, with Tesla competing on the new Model Y and year-end bonuses from domestic competitors like BYD, Nio, and Li Auto. Also, the company's intention to pressure its suppliers to lower the price in 2025 shows that cost pressure will remain a major issue in the sector.

The trend analysis demonstrates that the EV market is competitive but full of opportunities because sales reversal is observed in some manufacturers, the level of aggression in the pricing strategies is still high, and EV demand is quite unsteady.