Tag: XPeng

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China Electric eMobility eV XPeng XPeng Team

XPeng finishes consolidating sales system to improve efficiency, report says

The management teams of 's direct sales channel and its authorized dealer channel have been combined to reduce unnecessary competition for interest from within, according to local media.

XPeng US | XPeng HK

(Image credit: CnEVPost)

XPeng's (NYSE: XPEV) organizational restructuring appears to be continuing, with the latest move completing a major reorganization of its sales system, according to a new report.

XPeng's sales system has recently completed changes in its internal management structure, with the management teams of its direct sales channel as well as its authorized dealer channel being merged, according to a report by local media outlet Jiemian.

The company is one of the rare new Chinese carmakers to have both a direct and dealership system. This approach helped XPeng rapidly expand its number of stores and reduce the cost of building them in the early stages of its development, Jiemian's report noted.

As of the third quarter of last year, XPeng had more than 400 stores, of which about 70 percent were directly operated by the company and 30 percent were authorized dealers. As a comparison, and 's latest store counts were 296 and 387, respectively, according to the report.

However, these two sales channels of XPeng are managed by different teams and thus have the problem of competing for each other's interests.

XPeng's directly managed stores are under XPeng Auto Trading, headed by co-founder He Tao. Its authorized dealers are managed by the UDS (User Development Service Center) team, headed by chief talent officer and vice president of sales Liao Qinghong.

A previous report by local media 36kr mentioned that at the height of competition between these two teams, XPeng's direct system received a fund, one of the invisible uses of which was to find problems with the authorized dealer system.

Disruptions in the sales network were one of the reasons for XPeng's poor sales performance last year, Jiemian's report noted.

XPeng sold 120,757 vehicles in 2022, meeting only 48.3 percent of its full-year sales target, according to the report.

Starting in January, XPeng began integrating the two different sales systems, a process that was recently completed, Jiemian's report said, citing a source familiar with the matter.

On January 30, XPeng announced that Wang Fengying, formerly president of Great Wall Motor, has been named president of the company.

Ms. Wang will be responsible for XPeng's product planning, portfolio management and sales operations, reporting to the company's chairman and chief executive officer, He Xiaopeng, XPeng said at the time.

After heading sales, Ms. Wang removed XPeng's original big region system and redefined more than 20 sales districts, with direct stores and authorized dealers in each district managed by a single head, according to Jiemian.

The unified management of Xpen'sg directly managed stores and authorized dealers will be able to avoid competition between the two and help reduce the impact on consumers, the source said.

XPeng earnings preview: Q4 to be soft with promotions hitting margins

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China Earnings Earnings Preview Electric eMobility eV Tesla XPeng

XPeng earnings preview: Q4 to be soft with promotions hitting margins

"We expect generally soft results and a weak 1Q23 outlook due to challenging demand and pricing dynamics," Edison Yu's team said.

US | XPeng HK

XPeng (NYSE: XPEV) will report fourth-quarter earnings on Friday, and as usual, Deutsche Bank analyst Edison Yu's team provided their preview.

"We expect generally soft results and a weak 1Q23 outlook due to challenging demand and pricing dynamics," the team said in a research report sent to investors yesterday.

Soft fourth-quarter

XPeng will report its unaudited financial results for the fourth quarter and fiscal 2022 on Friday, March 17, before the US markets open.

It delivered 22,204 vehicles in the fourth quarter, above the upper end of the guidance range of 20,000 to 21,000, but down 46.82 percent year-on-year and down 24.91 percent from the third quarter.

XPeng's previous revenue guidance for the fourth quarter was RMB 4.8 billion to RMB 5.1 billion, representing a year-on-year decrease of about 40.4 percent to 43.9 percent.

"We expect a soft quarter with deliveries already reported at 22,204, above management's guidance range (20,000-21,000), but with promotional activity hitting margins," Yu's team wrote.

The team expects XPeng to post revenue of RMB 5.4 billion yuan and a gross margin of 11.5 percent in the fourth quarter.

They expect XPeng's vehicle margin to be 8.5 percent in the fourth quarter, down 3.1 percentage points from the third quarter, and adjusted earnings per share of RMB -2.33.

The current analyst consensus in the Bloomberg survey is for revenue of RMB 5.7 billion, gross margin of 12.1 percent and adjusted EPS of RMB -2.25.

For the first quarter, Yu's team expects deliveries to be around 19,000-20,000 units and for gross margin to drop to single digits as price cuts take hold.

XPeng deliveries in January and February were 5,218 and 6,010 units respectively, for a cumulative total of 11,228 units. Insurance registration figures for the past two weeks suggest that the company did not see a significant improvement in deliveries in March.

Uncertainty in 2023

The key to XPeng's relevance going forward is to win back market share, and that could take several quarters to achieve, which has created significant uncertainty this year, Yu's team said.

Demand for the company's flagship SUV, the G9, has clearly been disappointing, despite mostly positive reviews, the team said, adding that they expect XPeng to potentially make pricing or SKU adjustments to the SUV in the coming months.

XPeng's new P7i sedan should help with order volume, but there won't be materially beneficial until the second quarter, the team said.

Most importantly, XPeng's upcoming Model Y competitor, the G6, needs to reach at least 5,000 units per month by the end of the year to be considered a success, the team said.

The team now expects XPeng to be on track to deliver 145,000 vehicles in 2023, a 10,000-unit downward revision from earlier, taking into account the decline in G9 sales.

How can capacity utilization be improved?

If XPeng's sales continue to be weak, its management may need to get creative to improve its capacity utilization, Yu's team said, adding that the easiest way to do that would be to sign some large fleet deals.

That may be hard in China, considering and GAC have stronger positions in the taxi and ride-sharing segment, but XPeng recently signed deals with some local car rental companies to buy its P7 sedan, the team noted.

XPeng entered into a strategic partnership with local car rental company eHi Car Services on July 19, 2022, and delivered the first few hundred cars to the latter.

On January 9 this year, XPeng signed agreements with car rental company China Auto Rental and 's travel service platform Xiaolinggou Travel Technology, and completed the delivery of the first XPeng P7 vehicles in Ningbo, Zhejiang province.

In addition, XPeng has restarted its expansion efforts in Europe, where large fleet deals could make sense due to the region's high percentage of corporate fleets and low availability of cheap BEV options, Yu's team said.

"We note BYD has an agreement with SIXT for 100,000 EVs and XPeng's vehicles fall into a similar price point. BYD also just announced a 5,000 unit agreement with UK's Octopus EV," the team wrote.

Another option is to partner more deeply with traditional OEMs on EVs and robotaxis, which could come in the form of equity investments or strategic alliances, according to the team.

XPeng offering discounts to clear P7 inventory, facelift to launch next week, report says

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BYD China Deliveries Electric eMobility eV EV Data Insurance Registrations Li Auto Neta Nio Tesla Weekly Data XPeng

China NEV insurance registrations for week ending Mar 12: BYD 37,141, Tesla 17,032, NIO 2,170

This article is being updated, please refresh later for more content.

's insurance registrations last week in China were higher than the previous week's 13,266, while 's were lower than the previous week's 3,345.

 

's new energy vehicles (NEVs) saw 37,141 insurance registrations in China for the week ending March 12, lower than the previous week's 38,932, according to numbers shared today by auto blogger @一路向北BYD.

Tesla vehicles saw 17,032 insurance registrations in China last week, higher than the previous week's 13,266.

NIO was 2,170 last week, down from 3,345 the week before.

registered 4,243 units last week, up from 3,222 units the previous week.

was 1,635 units last week, up from 1,421 units the week before.

BYD's premium brand Denza vehicles saw 1,853 insurance registrations last week, up from 1,808 the week before.

was 1,043 units last week, down from 1,814 units the week before.

BMW's NEVs registered 1,486 insurance units in China last week, down from 1,663 units the week before.

The past week has seen a rare price war in China's auto industry involving not only NEV makers, but traditional internal combustion engine automakers as well.

Rumors surfaced last week that BMW dealers were offering a massive subsidy for the all-electric BMW i3 in China, and that consumers who pay full price for the car can even get the model for RMB 120,000 to 180,000, less than half the retail price.

BMW insiders denied this, but sources at BMW dealers said they are indeed offering discounts, and that these measures were only introduced this month, local media Cailian reported last week.

For the BMW i3 eDrive35 L, which currently has a guide price of RMB 353,900, the price after discounts is RMB 248,000, the report said, citing BMW dealership sources.

Consumers will also receive an additional RMB 6,000 subsidy if they trade in their vehicles, the source said.

The increasing number of car companies joining the price war has led to increased consumer wait-and-see sentiment to avoid seeing price reductions shortly after purchasing a car.

Li Auto has introduced a consumer purchase price protection benefit that covers all of the company's currently available models -- Li L7, Li L8, Li L9.

For consumers who purchase these models, if the prices drops within 90 days of their order, then Li Auto will refund the difference.

The policy, which is available to consumers when they purchase the Li L7, Li L8, and Li L9, is primarily intended to make clear to them that Li Auto will not drop the prices, local media outlet The Paper said earlier today, citing salespeople from the company.

China NEV insurance registrations for week ending Mar 5: BYD 38,932, Tesla 13,266, NIO 3,345

Weekly NEV insurance registrations in China in 2023

WkBYDTeslaNIOXPengLi AutoBMWZeekrNEVNEV+ICE
03/06-03/1237,14117,0322,1701,6354,2431,4861,043988
02/27-03/0538,93213,2663,3451,4213,2221,6631,8144,109515116,238345,340
02/20-02/2639,47310,7053,3571,6855,3871,7921,8552,152401111,983331,238
02/13-02/1937,0265,9133,1741,4634,2382,2711,4431,038329100,408303,101
02/06-02/1231,4176,9633,0451,3964,0626825471,170NA85,572280,741
01/30-02/0524,2808,6431,9489752,2405935543,96411469,692267,843
01/23-01/295,2803,356427210990NA89NANA17,94592,600
01/16-01/2224,7087,4963,0081,0684,903NA657NANA67,500330,400
01/09-01/1540,42012,6542,9631,8174,5272,6871,35942023799,041438,000
01/02-01/0835,9242,1102,8181,5513,7042,1031,5112388077,000290,000

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charging China Electric eMobility eV Li Auto Nio

Li Auto to build charging stations at ‘NIO pace’, report says

is aiming to build about 300 super-fast charging stations this year, and also plans to add 10,000 new charging piles this year, according to local media.

LI.US | 2015.HK

(Image credit: Li Auto)

Li Auto (NASDAQ: LI) is starting to build out its charging infrastructure as its first all-electric model is set to be launched this year.

Li Auto's infrastructure build-out will enter the "NIO pace," with the company setting a goal of building about 300 super-fast charging stations within the year, with about 10 already deployed in highway service areas, a 36kr report today said, citing people familiar with the matter.

The move is in preparation for the launch of Li Auto's first all-electric model, which will be an all-electric MPV expected to be released by the end of 2023, and ultra-fast charging will be one of the highlights of the vehicle, according to the report.

Earlier this week, one of Li Auto's under-construction 800 V charging stations was seen at a highway service area in China, sparking widespread discussion in the Chinese community.

All of Li Auto's current models are extended-range electric vehicles (EREVs), which are essentially plug-in hybrids. Because these vehicles can be refueled, Li Auto has not started working on charging facilities in the past few years.

By 2025, Li Auto will have built a total of 3,000 supercharging stations, at a total cost of 10 billion yuan ($1.44 billion), Li Xiang, the company's founder, chairman and CEO, said in a media event last week.

For a company with annual revenues in the RMB 100 billion range, these costs are not as high as one might think after being spread out over five years, he said.

Li Auto is very confident about the coverage of supercharging piles along highways because China has been encouraging car companies to build supercharging stations since last year, he said.

The company's supercharging stations will be open to other models built on the 800 V platform, ensuring that each of its peer brands can also charge at a high level of efficiency, according to Li.

In China, NIO (NYSE: NIO) is one of the most aggressive car companies in building charging infrastructure.

NIO announced at NIO Day late last year that the company plans to add 400 new battery swap stations in 2023.

However, on February 21, William Li, NIO's founder, chairman and CEO, said that plan was far from enough and upped it to 1,000 stations.

"We have set a new goal of adding 1,000 new battery swap stations in 2023, for a cumulative total of more than 2,300 stations by the end of 2023," Li said in an article posted to the NIO App last month.

Of the 1,000 new stations, about 400 will be located near highway service areas or highway entrances and exits. The other 600 or so will be deployed in urban areas.

The 36kr report today quotes an NIO employee as saying that in addition to its aggressive battery swap station goal, the company also plans to add 10,000 new charging piles this year.

Those additions include superchargers and destination charging piles, covering both domestic and foreign markets, according to the report.

As of March 10, NIO had 1,321 battery swap stations in China, as well as 2,383 charging stations offering 14,054 charging piles, according to data monitored by CnEVPost.

In addition to Li Auto and NIO, their local counterpart (NYSE: XPEV) is also fast-tracking the construction of energy replenishment facilities.

On August 15, 2022, XPeng showcased its S4 Supercharging technology and announced the completion of its first S4 supercharger in Guangzhou, where it is headquartered.

This S4 fast charging pile has a maximum power of 480 kW, a maximum current of 670 A and a peak charging power of 400 kW, enabling the vehicle to obtain a CLTC range of 210 km in 5 minutes.

Last September 21, XPeng said at the G9 launch that it expects to add more than 500 S4 supercharging stations in 2023 and that the number will exceed 2,000 by 2025.

The reason for these aggressive moves is that there are limited site resources suitable for building such facilities.

Most highway service areas in China don't have much power redundancy, and after considering NIO's battery swap stations and State Grid's charging facilities, there aren't really many suitable site resources left, 36kr quoted an unnamed car company source as saying.

($1 = 6.9606 RMB)

NIO reveals aggressive plan to add 1,000 swap stations in 2023

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China CPCA CPCA Ranking Electric eMobility eV EV Data Industry News Monthly Data Tesla Top EVs

Full CPCA rankings: Top-selling models and automakers in China in Feb

This article contains 20 tables compiled by CnEVPost based on data from the CPCA, showing which models and car companies sold the most in China in February.

The China Passenger Car Association (CPCA) announced on March 9 the top selling models and car companies in China in February, presenting a panoramic view of the Chinese auto industry.

CnEVPost highlighted the NIO ET5 and 's Model Y on these lists in yesterday's articles.

Here are 20 tables CnEVPost compiled based on data from the CPCA, in case you wish to know more details about these rankings.

Top-selling sedans at retail in China in Feb 2023
RankingModelFeb 2023Feb 2022YoY
1 Qin30,54024,50124.6%
2Hongguang Mini EV30,26726,11615.9%
3Nissan Sylphy26,10228,519-8.5%
4BYD Dolphin22,6828,561164.9%
5Volkswagen Lavida21,26926,707-20.4%
6Aion S16,8273,380397.8%
7Volkswagen Sagitar14,52612,54015.8%
8Toyota Camry14,40114,2281.2%
9Honda Accord13,21813,816-4.3%
10Toyota Levin13,2009,14244.4%
11Toyota Corolla12,89915,595-17.3%
12 Emgrand12,34712,574-1.8%
13BYD Han12,2659,28432.1%
14Audi A6L12,1678,15349.2%
15Mercedes-Benz E-Class12,1539,37829.6%
Top-selling sedans at retail in China in Jan-Feb 2023
RankingModelJan-Feb 2023Jan-Feb 2022YoY
1Nissan Sylphy49,60978,501-36.8%
2Volkswagen Lavida48,18671,995-33.1%
3Wuling Hongguang Mini46,68352,798-11.6%
4BYD Qin44,72551,043-12.4%
5BYD Dolphin40,26419,163110.1%
6Volkswagen Sagitar34,98040,275-13.1%
7Toyota Camry28,79739,178-26.5%
8Honda Accord27,81236,723-24.3%
9Mercedes-Benz E-Class26,69630,398-12.2%
10BMW 5 Series25,73735,444-27.4%
11Toyota Corolla25,48926,242-2.9%
12Audi A6L24,63221,22016.1%
13Geely Emgrand24,49132,825-25.4%
14BYD Han23,98322,0648.7%
15Volkswagen Bora23,59632,040-26.4%
Top-selling high-end sedans at retail in China in Feb 2023
RankingModelFeb 2023Feb 2022YoY
1Audi A6L12,1678,15349.2%
2Mercedes-Benz E-Class12,1539,37829.6%
3Mercedes-Benz C-Class11,8695,298124.0%
4BMW 5 Series9,6099,3522.7%
5BMW 3 Series8,86810,185-12.9%
6Audi A4L6,9359,460-26.7%
7 ET56,471NANA
8BMW 3 Series BEV2,976NANA
9Volvo S902,8931,66673.6%
10Hongqi H91,1591,477-21.5%
High-end models are those with a starting price of more than RMB 300,000.
Top-selling high-end sedans at retail in China in Jan-Feb 2023
RankingModelJan-Feb 2023Jan-Feb 2022YoY
1Mercedes-Benz E-Class26,69630,398-12.2%
2BMW 5 Series25,73735,444-27.4%
3Audi A6L24,63221,22016.1%
4Mercedes-Benz C-Class17,76215,57114.1%
5BMW 3 Series16,62734,581-51.9%
6NIO ET512,266NANA
7Audi A4L11,87826,204-54.7%
8BMW 3 Series BEV6,600NANA
9Volvo S905,1744,55213.7%
10Hongqi H91,9624,563-57.0%
High-end models are those with a starting price of more than RMB 300,000.
Top-selling new energy sedans at retail in China in Feb 2023
RankingModelFeb 2023Feb 2022YoY
1BYD Qin30,54024,50124.6%
2Wuling Hongguang Mini30,26726,11615.9%
3BYD Dolphin22,6828,561164.9%
4Aion S16,8273,380397.8%
5BYD Han12,2659,28432.1%
6Changan Lumin9,105NANA
7Tesla Model 38,3974,60782.3%
8BYD Seal7,754NANA
9Geely Panda Mini6,661NANA
10NIO ET56,471NANA
11BYD Destroyer 054,760NANA
12Shenlan SL034,103NANA
13Chery QQ Ice Cream3,1346,442-51.4%
14BMW 3 Series BEV2,976NANA
15Buick Velite 62,9232,01445.1%
Top-selling new energy sedans at retail in China in Jan-Feb 2023
RankingModelJan-Feb 2023Jan-Feb 2022YoY
1Wuling Hongguang Mini46,68352,798-11.6%
2BYD Qin44,72551,043-12.4%
3BYD Dolphin40,26419,163110.1%
4BYD Han23,98322,0648.7%
5Aion S21,91810,429110.2%
6Tesla Model 321,0567,595177.2%
7BYD Seal14,372NANA
8Changan Lumin13,816NANA
9NIO ET512,266NANA
10Shenlan SL0310,240NANA
11BYD Destroyer 059,616NANA
12Hongqi E-QM59,1741,130711.9%
13Geely Panda Mini6,661NANA
14BMW 3 Series BEV6,600NANA
15Chery QQ Ice Cream5,87016,426-64.3%
Top-selling SUVs at retail in China in Feb 2023
RankingModelFeb 2023Feb 2022YoY
1BYD Song51,59224,532110.3%
2Tesla Model Y25,52618,59337.3%
3BYD Yuan Plus20,2794,515349.1%
4Haval H616,48918,790-12.2%
5Honda CR-V14,05222,260-36.9%
6Changan CS7513,41012,2979.1%
7Changan CS5513,0865,013161.0%
8Aion Y12,9962,986335.2%
9BYD Tang12,02910,02620.0%
10Geely Boyue L11,637NANA
11Hongqi HS511,3209,10624.3%
12BMW X311,3178,81928.3%
13Nissan Qashqai9,7049,743-0.4%
14Geely Xingyue L9,6117,02236.9%
15Toyota Wildlander9,3837,99417.4%
Top-selling SUVs at retail in China in Jan-Feb 2023
RankingModelJan-Feb 2023Jan-Feb 2022YoY
1BYD Song101,30146,981115.60%
2Tesla Model Y39,71034,95113.60%
3Changan CS7535,03044,419-21.10%
4BYD Yuan Plus34,6216,515431.40%
5Haval H633,15252,108-36.40%
6Changan CS5526,10634,864-25.10%
7Geely Boyue L25,272NANA
8Mercedes-Benz GLC23,12532,289-28.40%
9BMW X321,93028,361-22.70%
10Honda CR-V21,69039,875-45.60%
11BYD Tang20,57118,8739.00%
12Geely Xingyue L19,85918,5057.30%
13Hongqi HS517,94725,385-29.30%
14Geely Binyue17,90014,95219.70%
15Aion Y17,7889,39989.30%
Top-selling high-end SUVs at retail in China in Feb 2023
RankingModelFeb 2023Feb 2022YoY
1BMW X311,3178,81928.3%
2Mercedes-Benz GLC8,8089,958-11.5%
3Audi Q5L8,4148,859-5.0%
4 L88,192NANA
5Li Auto Li L97,299NANA
6BMW X57,034NANA
7Mercedes-Benz GLB5,9543,03096.5%
8Volvo XC604,9733,08561.2%
9Cadillac XT53,4833,15410.4%
10Volkswagen Teramont3,0852,65516.2%
Top-selling high-end SUVs at retail in China in Jan-Feb 2023
RankingModelJan-Feb 2023Jan-Feb 2022YoY
1Mercedes-Benz GLC23,12532,289-28.4%
2BMW X321,93028,361-22.7%
3BMW X517,728NANA
4Li Auto Li L915,295NANA
5Audi Q5L14,88125,921-42.6%
6Li Auto L814,291NANA
7Volvo XC609,7698,24918.4%
8Mercedes-Benz GLB9,1389,537-4.2%
9Volkswagen Teramont5,9457,491-20.6%
10Cadillac XT54,3408,331-47.9%
Top-selling new energy SUVs at retail in China in Feb 2023
RankingModelFeb 2023Feb 2022YoY
1BYD Song51,59222,754126.70%
2Tesla Model Y25,52618,59337.30%
3BYD Yuan Plus20,2794,515349.10%
4Aion Y12,9962,986335.20%
5BYD Tang12,02910,02620.00%
6Li Auto L88,192NANA
7Li Auto Li L97,299NANA
8BYD Frigate 076,429NANA
9 V5,0134,07323.10%
10 0014,8392,91665.90%
11Smart #13,616NANA
12Neta U3,0123,044-1.10%
13BMW X32,8591,47294.20%
14NIO ES62,8483,309-13.90%
15AITO M52,2981,061116.60%
Top-selling new energy SUVs at retail in China in Jan-Feb 2023
RankingModelJan-Feb 2023Jan-Feb 2022YoY
1BYD Song101,30143,476133.0%
2Zeekr 00139,71034,95113.6%
3Tesla Model Y34,6216,515431.4%
4BYD Yuan Plus20,57118,8739.0%
5BYD Tang17,7889,39989.3%
6Aion Y15,295NANA
7Li Auto Li L914,291NANA
8Li Auto L811,472NANA
9BYD Frigate 078,50010,555-19.5%
10Neta V7,9556,44623.4%
11Smart #16,786NANA
12BMW X35,1223,20359.9%
13AITO M55,0301,876168.1%
14Neta U4,0247,571-46.8%
15NIO ES63,7208,556-56.5%
Top-selling MPVs at retail in China in Feb 2023
RankingModelFeb 2023Feb 2022YoY
1Wuling Hongguang12,93317,847-27.50%
2Buick GL88,0119,090-11.90%
3Denza D97,325NANA
4GAC Trumpchi M86,3315,00126.60%
5Toyota Sienna5,6534,12037.20%
6Toyota Granvia4,384NANA
7Wuling Jiachen3,921NANA
8GAC Trumpchi M63,7452,03983.70%
9Dongfeng Fengxing Lingzhi2,9193,357-13.00%
10Honda Elysion2,7502,49710.10%
11Honda Odyssey2,0333,069-33.80%
12Brilliance Xinyuan Jinhaishi1,700781117.70%
13JAC Ruifeng1,6861,00767.40%
14Buick Century1,614NANA
15Mercedes-Benz Vito1,40884766.20%
Top-selling MPVs at retail in China in Jan-Feb 2023
RankingModelJan-Feb 2023Jan-Feb 2022YoY
1Wuling Hongguang23,41543,910-46.70%
2Denza D913,763NANA
3Toyota Sienna12,2748,44945.30%
4Buick GL811,32825,147-55.00%
5GAC Trumpchi M810,8627,01055.00%
6Wuling Jiachen8,553NANA
7GAC Trumpchi M66,2528,350-25.10%
8Toyota Granvia6,234NANA
9Honda Elysion4,2974,788-10.30%
10Dongfeng Fengxing Lingzhi4,0908,399-51.30%
11Honda Odyssey3,7927,921-52.10%
12Buick Century3,204NANA
13JAC Ruifeng3,1863,606-11.60%
14Brilliance Xinyuan Jinhaishi2,1651,14189.70%
15Mercedes-Benz V-Class2,0642,797-26.20%
Automakers with highest retail sales of NEVs in China in Feb 2023
RankingAutomakerFeb 2023Feb 2022YoYShare
1BYD176,66286,669103.8%39.8%
2Tesla China33,92323,20046.2%7.6%
3SAIC-GM-Wuling32,70929,22911.9%7.4%
430,0868,526252.9%6.8%
5Geely22,39113,69763.5%5.0%
6Changan19,1065,560243.6%4.3%
7Li Auto16,6208,41497.5%3.7%
8NIO12,1576,13198.3%2.7%
9Neta10,0737,11741.5%2.3%
10Chery7,99910,718-25.4%1.8%
11Great Wall Motor7,4056,34716.7%1.7%
12BMW Brilliance6,5682,762137.8%1.5%
13FAW-Volkswagen6,0694,93423.0%1.4%
146,0106,225-3.5%1.4%
15SAIC-GM3,6942,20867.3%0.8%
Automakers with highest retail sales of NEVs in China in Jan-Feb 2023
RankingAutomakerJan-Feb 2023Jan-Feb 2022YoYShare
1BYD316,417179,45776.3%40.8%
2Tesla China60,76642,54642.8%7.8%
3SAIC-GM-Wuling50,43359,563-15.3%6.5%
4GAC Aion40,29224,55764.1%5.2%
5Changan37,33215,412142.2%4.8%
6Geely32,67431,1025.1%4.2%
7Li Auto31,76120,68253.6%4.1%
8NIO20,66315,78330.9%2.7%
9Neta16,08918,126-11.2%2.1%
10BMW Brilliance13,7057,98671.6%1.8%
11Chery13,29331,367-57.6%1.7%
12Great Wall Motor12,47419,720-36.7%1.6%
13XPeng11,22819,147-41.4%1.4%
14FAW Hongqi11,0591,802513.7%1.4%
15FAW-Volkswagen9,57210,442-8.3%1.2%
Automakers with highest retail sales in China in Feb 2023
RankingAutomakerFeb 2023Feb 2022YoYShare
1BYD176,66289,10298.30%12.70%
2FAW-Volkswagen110,511104,9455.30%8.00%
3Changan92,80260,68252.90%6.70%
4Geely91,17968,62732.90%6.60%
5SAIC-Volkswagen74,01380,158-7.70%5.30%
6GAC Toyota67,02953,09426.20%4.80%
7SAIC-GM-Wuling57,30759,967-4.40%4.10%
8Dongfeng Nissan56,71963,583-10.80%4.10%
9SAIC-GM53,02173,021-27.40%3.80%
10FAW Toyota49,95960,313-17.20%3.60%
11BMW Brilliance49,34237,00133.40%3.60%
12Beijing Benz46,85532,68543.40%3.40%
13Great Wall Motor39,47255,666-29.10%2.80%
14Chery39,13533,60816.40%2.80%
15Dongfeng Honda38,30754,907-30.20%2.80%
Automakers with highest retail sales in China in Jan-Feb 2023
RankingAutomakerJan-Feb 2023Jan-Feb 2022YoYShare
1BYD316,417184,13471.8%11.8%
2FAW-Volkswagen221,946295,719-24.9%8.3%
3Changan209,825204,2382.7%7.8%
4Geely179,526201,117-10.7%6.7%
5SAIC-Volkswagen154,631217,775-29.0%5.8%
6GAC Toyota128,142140,731-8.9%4.8%
7SAIC-GM108,042193,042-44.0%4.0%
8BMW Brilliance106,109126,084-15.8%4.0%
9Dongfeng Nissan102,337174,520-41.4%3.8%
10SAIC-GM-Wuling101,572145,738-30.3%3.8%
11FAW Toyota93,746101,158-7.3%3.5%
12Beijing Benz89,212102,752-13.2%3.3%
13Chery80,269110,194-27.2%3.0%
14Great Wall Motor77,205145,407-46.9%2.9%
15GAC Honda76,136131,678-42.2%2.8%
Automakers with highest wholesale sales in China in Feb 2023
RankingAutomakerFeb 2023Feb 2022YoYShare
1BYD191,66490,268112.3%11.9%
2Changan116,40769,01468.7%7.2%
3Geely108,70178,47838.5%6.7%
4FAW-Volkswagen105,007128,876-18.5%6.5%
5Chery96,55354,40577.5%6.0%
6Tesla China74,40256,51531.7%4.6%
7SAIC-Volkswagen73,30390,604-19.1%4.5%
8SAIC-GM68,15776,006-10.3%4.2%
9Dongfeng Nissan66,81886,301-22.6%4.1%
10GAC Toyota63,20050,10026.1%3.9%
11SAIC Passenger Vehicle58,33664,007-8.9%3.6%
12FAW Toyota54,88875,918-27.7%3.4%
13BMW Brilliance52,87143,55821.4%3.3%
14Beijing Benz52,30040,00030.8%3.2%
15Great Wall Motor51,05359,155-13.7%3.2%
Automakers with highest wholesale sales in China in Jan-Feb 2023
RankingAutomakerJan-Feb 2023Jan-Feb 2022YoYShare
1BYD341,828185,62384.2%11.2%
2Changan239,881228,2475.1%7.8%
3FAW-Volkswagen217,040311,876-30.4%7.1%
4Geely212,153224,858-5.7%6.9%
5Chery191,766135,64341.4%6.3%
6SAIC-Volkswagen145,311221,211-34.3%4.7%
7Tesla China140,453116,36020.7%4.6%
8GAC Toyota138,700150,000-7.5%4.5%
9SAIC-GM123,158186,013-33.8%4.0%
10SAIC Passenger Vehicle113,630130,241-12.8%3.7%
11BMW Brilliance111,138122,645-09.4%3.6%
12Dongfeng Nissan101,837213,424-52.3%3.3%
13Great Wall Motor100,892158,073-36.2%3.3%
14Beijing Benz96,31093,8002.7%3.1%
15FAW Toyota91,352127,370-28.3%3.0%

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China Electric eMobility eV Product Launch Tesla XPeng XPeng P7i

XPeng P7i officially launched in China with starting price higher than Tesla Model 3

offers four versions of the P7i with a starting price of RMB 249,900, above the RMB 229,900 for the Model 3.

(Image credit: XPeng)

XPeng (NYSE: XPEV) today officially launched the P7i, a revamped version of its flagship sedan P7, in China in just four versions to avoid a repeat of the confusion caused by the flagship SUV G9's initial launch last September.

The company's WeChat post announcing the P7i's launch clearly lists the sedan's available variants and their corresponding prices, as well as the benefits the company is offering consumers.

The XPeng P7i is available in four versions -- 702 Pro, 702 Max, 610 Max Performance, and 610 Wing Edition -- with starting prices of RMB 249,900 ($35,890), RMB 269,900, RMB 289,900, and RMB 339,900, respectively.

This is higher than the Model 3 sedan's starting price of RMB 229,900 in China, although the Tesla model is only available in two versions in China, with the other version starting at RMB 329,900.

Consumers who reserve the XPeng P7i by April 30 will receive four years of free charging, up to 1,500 kWh per year, and they will also receive a free Dynaudio upgrade valued at RMB 6,000.

The model's show cars and vehicles for test drives are currently available at XPeng's experience centers, a tightly scheduled rhythm that differs from its previous approach.

The XPeng P7i will continue to be built on the regular 400 V platform, rather than the 800 V high-voltage platform used by the G9.

However, the P7i's maximum charging power has been increased from its predecessor's 90 kW to 175 kW, allowing it to charge from 10 percent to 80 percent in 29 minutes.

The Pro version of the XPeng P7i comes standard with one Nvidia Orin-X smart driving chip with 254 TOPS of computing power. The Max version of the model comes standard with two Orin-X chips as well as two LiDARs.

CnEVPost got an early look at the model at the end of January and learned from the event at the time that the P7i's LiDARs are set near the headlights as in the XPeng G9, and the supplier is RoboSense as in the G9.

The chip driving the in-car infotainment system in the XPeng P7i has been upgraded from the P7's Qualcomm Snapdragon 820A chip to the Snapdragon SA8155P.

The number in the model's name represents the CLTC range, which tops at 702 km.

The two versions of the XPeng P7i with a range of 702 kilometers are rear-drive single-motor, capable of accelerating from 0 to 100 kilometers per hour in 6.4 seconds. Its two versions with a range of 610 km are dual-motor four-wheel drive models and can accelerate from 0 to 100 km/h in 3.9 seconds.

For XPeng, the P7i will be the model that will be crucial to boosting sales.

The P7i's predecessor, the P7, was the XPeng's main seller for a long time, selling 59,066 units in 2022, contributing 49 percent of the XPeng's annual sales of 120,757 units, data monitored by CnEVPost show.

Notably, the XPeng P7i's launch comes at a delicate point in time, with Chinese car companies -- both internal combustion engine automakers and new energy vehicle (NEV) makers -- engaged in an unprecedented price war.

On January 6, Tesla sharply lowered the prices of all its China-made models in an attempt to boost demand for its electric vehicles in China, becoming the first automaker to publicly cut prices in the country.

On January 17, XPeng lowered the prices of all models except the G9, with the P7 receiving the largest price cut. After that, a number of other NEV makers also started to reduce prices or offer purchase discounts.

Prior to this month, it was mainly NEV makers that were openly offering price cuts and purchase incentives, but earlier this month, authorities in central China's Hubei province joined forces with a number of local car companies to offer subsidies, with some models offering subsidies of up to RMB 90,000.

also announced yesterday that consumers who order the BYD Song Plus lineup from March 10 to March 31 will receive an RMB 6,800 discount, or RMB 8,800 for the Seal.

While these purchase offers appear to be temporary promotions by car companies, they reflect the overall pressure the Chinese auto industry is currently facing and are bound to allow the impact to be magnified as more brands participate.

($1 = RMB 6.9638)

Regulatory filing: Here's what XPeng G6 SUV looks like and core specs

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BYD BYD Seal BYD Song China Electric eMobility eV Price Change Price Cut Tesla

BYD offers discounts for Song and Seal as China’s auto price war intensifies

Consumers who order 's Song Plus lineup this month will receive a discount of RMB 6,800, or RMB 8,800 for the Seal.

(Image from BYD's Weibo)

As the price war intensifies in China's auto industry, BYD has also started offering discounts for its two models, even though the official prices remain unchanged.

Starting tomorrow, consumers who order BYD's Song Plus lineup can get a discount of RMB 6,800 ($980), or RMB 8,800 for the Seal, according to a BYD Weibo post today.

This is a limited-time marketing campaign valid from March 10 to March 31, BYD said.

BYD did not provide more details, but the Song family, as well as the Seal, are among its best-selling models.

BYD sold 193,655 new energy vehicles (NEVs) in February, including 191,664 passenger cars and 1,991 commercial vehicles, the company said in figures released on March 1.

Song family models sold 52,400 units in February, BYD's highest sales in the month, contributing 27 percent of all its passenger car sales.

Song family models include the hybrid Song Pro and Song Max, both of which are part of BYD's Dynasty lineup.

The family also includes the hybrid Song Plus DM-i and the all-electric Song Plus EV, which are part of BYD's Ocean series.

BYD announced today that the offer is limited to these two Song models in the Ocean series, as well as the Seal.

BYD's Seal sold 7,754 units in February, which was up 17.17 percent from 5,043 units in January. The model went on sale on July 29, 2022.

Since the end of last year, several EV makers have cut prices, including and (NYSE: XPEV).

Earlier this month, authorities in central China's Hubei province joined forces with a number of local car companies to offer subsidies for consumers to purchase vehicles, with some models offering subsidies of up to RMB 90,000, marking the open entry of fuel models into the price war.

The first to participate are the Dongfeng Motor family of brands, including Dongfeng Honda, Dongfeng Nissan, Dongfeng Citroen, Dongfeng Peugeot and Dongfeng Aeolus, with the Dongfeng Citroen C6 offering a combined subsidy of up to RMB 90,000.

($1 = RMB 6.962)

Automakers in central China's Hubei offer hefty subsidies as sales pressure mounts

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BYD China Denza Denza N7 Electric eMobility eV Regulatory Filing

Regulatory filing: Here are core specs for BYD’s Denza brand’s new SUV, Denza N7

The Denza N7 will be available in single- and dual-motor versions, with an option for LiDARs, which are set on both sides of the front bumper.

BYDDY.US | 1211.HK

The Denza N7, a new SUV from 's premium new energy vehicle (NEV) brand Denza, has appeared on a regulatory filing list, after the brand began warming up for the model earlier this week.

China's Ministry of Industry and Information Technology (MIIT) today announced the latest batch of models that will be allowed to be sold in China, and the Denza N7 is included in the list.

The public can submit their feedback on the list between March 9 and March 15. Entry into the catalog is the last major regulatory process before a model is allowed to be sold in China.

The Denza N7 is available in four versions, including two single-motor versions and two dual-motor versions, the former with a motor with peak power of 230 kW and the latter with an additional motor with peak power of 160 kW.

The vehicle measures 4,860 mm in length, 1,935 mm in width and 1,602 mm in height, and has a wheelbase of 2,940 mm. It can reach a top speed of 180 km/h.

The Denza N7 will be powered by lithium iron phosphate batteries from BYD's battery division, FinDreams Battery.

It will be offered with the LiDARs, which are set on both sides of the front bumper, similar to the setup of the G9.

On December 20, Zhao Changjiang, general manager of Denza's sales division, shared six spy photos of the SUV on Weibo, showing what the model could look like.

In the comments section of that Weibo, Zhao said the SUV is aimed at capturing the market for traditional internal combustion engine cars priced around 400,000 yuan ($57,440).

The model's exterior restores much of the design of Denza's concept car INCEPTION, which was unveiled at the Chengdu auto show on August 26, 2022.

Denza's previously announced 2023 new vehicle plan shows that it will release two new vehicles this year, the Denza N7, a five-seat midsize SUV, and the Denza N8, a midsize SUV with six and seven-seat layouts.

Denza was established in February 2011 as a joint venture between BYD and Daimler, with each of them holding a 50 percent stake at the time. Last year, BYD's stake in Denza was increased to 90 percent.

Denza's only model currently on sale, the D9 MPV, went on sale on August 23, 2022, with deliveries starting October 26.

The brand sold 7,325 vehicles in February, up 13.76 percent from 6,439 in January, according to figures it announced earlier this month.

($1 = 6.9642 yuan)

BYD's Denza brand teases new model Denza N7

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China Electric eMobility eV Regulatory Filing Tesla XPeng XPeng G6

Regulatory filing: Here’s what XPeng G6 SUV looks like and core specs

Previous reports suggested that the new new SUV would start at RMB 200,000-250,000 and is expected to be unveiled at this year's Shanghai auto show.

XPEV.US | 9868.HK

The latest regulatory filings reveal XPeng's (NYSE: XPEV) new SUV, which is expected to be released in a few months, as the electric vehicle (EV) maker looks to accelerate its new product launches this year.

China's Ministry of Industry and Information Technology (MIIT) today announced the latest batch of models that will be allowed to be sold in China, and XPeng's new SUV, the G6, is included in the list.

The public can submit feedback on the list between March 9 and March 15. Entry into the catalog is the last major regulatory process before a model is allowed to be sold in China.

There are three versions of the XPeng G6 in the catalog, including two single-motor versions and one dual-motor version.

One of the two single-motor versions will be powered by a lithium iron phosphate battery pack, while the other single-motor version and the dual-motor version will both be powered by the more costly ternary lithium batteries.

The XPeng G6 has a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm, according to these filing pages.

The model appears to be the one previously mentioned by XPeng management to compete with 's (NASDAQ: TSLA) Model Y, which measures 4,750 mm in length, 1,921 mm in width, 1,624 mm in height and has a wheelbase of 2,890 mm.

Both single-motor versions of the XPeng G6 are equipped with a motor with 218 kW peak power, while the dual-motor version has an additional 140 kW peak power motor.

All three versions of the XPeng G6 will be equipped with battery cells supplied by 's local competitor CALB, and the battery packs will be manufactured at XPeng's plant in Wuhan, Hubei.

XPeng management said during an earnings call on August 23, 2022 that the company will release a B-segment vehicle in the first half of 2023 that will compete with the Tesla Model Y.

The model was previously seen as possibly being named the G7 or G5, although spy photos shared by some local media last month showed that it will be called the G6.

XPeng chairman and CEO He Xiaopeng said in a January 28 internal all-staff letter that the company will release two new models and revamp three existing older models in 2023, with a goal of delivering 200,000 vehicles for the year, according to a previous report by LatePost.

That report said at the time that the new XPeng SUV would start at RMB 200,000 ($28,680)-250,000 and was expected to be unveiled at this year's Shanghai auto show.

XPeng's current models on sale include the G3i, P5, P7 and G9, and the company has officially unveiled the P7i, a facelift of the P7, on March 6, but not the price. Earlier today, a media report said that XPeng may officially let the P7i go on sale and announce the price on March 10.

($1 = RMB 6.9711)

XPeng aims to deliver 200,000 vehicles in 2023, report says

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