MW Chinese EV makers BYD, Nio, Li and XPeng end 2024 on a sales high

By James Rogers

Chinese electric-vehicle makers enjoyed strong sales in December 2024 as the country's EV price war continued

Chinese electric-vehicle makers enjoyed strong sales as 2024 drew to a close, according to the latest data released by BYD Co. Ltd, Nio Inc., Li Auto Inc. and XPeng Inc.

The numbers come amid an ongoing electric vehicle price war in China. In a statement, Shenzhen-based EV giant BYD (BYDDY) said it sold 514,809 electric vehicles in December 2024, up from 341,043 vehicles in December 2023. The Tesla Inc. $(TSLA)$ rival sold 4,272,145 in 2024, up from 3,024,417 in the prior year.

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Shanghai-based Nio $(NIO)$ said it delivered 31,138 vehicles in December, marking a 72.9% year-over-year increase and setting a new monthly delivery record for the company. In a statement, Nio said it delivered 20,610 vehicles from its premium smart EV brand Nio, and 10,528 vehicles from the family-oriented smart EV brand ONVO. For full-year 2024, Nio delivered 221,970 vehicles, a year-over-year increase of 38.7%.

In a statement, Li $(LI)$ said it delivered 58,513 vehicles in December - marking a 16.2% year-over-year increase and a new monthly high. The company delivered 500,508 vehicles in 2024, bringing its all-time deliveries to 1,133,872.

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XPeng $(XPEV)$ delivered 36,695 vehicles in December, according to a filing - that's an 82% year-over-year increase. The number also represented a 19% increase over the prior month, the company said.

-James Rogers

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January 02, 2025 08:33 ET (13:33 GMT)

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