As the quarterly results are out, it is observed that the EV makers sold more EVs in March than in February. Additionally, most electric cars were sold by Xpeng, with 15,414 vehicle sales in March. It is 148% more from February. In the first quarter, the sales were 34,561 units.
Xpeng’s P7 flagship sedan exceeded 9,000 deliveries, a monthly record. “The company attributes its robust Q1 delivery results to growing brand awareness and higher demand for its Smart EV products as well as accelerated delivery of its large order backlog from 2021 and new orders received in 2022 after it completed technology upgrades for its Zhaoqing plant in February,” an Xpeng spokesperson told, as reported by CNBC.
Chinese electric vehicle start-up Li Auto reported a rebound in deliveries of its cars in February but said production has been affected because of a resurgence of Covid cases in China. U.S.- and Hong Kong-listed Li Auto delivered 11,034 of its Li-One sports utility vehicle (SUV) in March, up 31% from February. For the first quarter, Li Auto said it had delivered 31,716 vehicles, an increase of 152.1% year on year.
However, the company said that production has been affected “by the shortage of certain auto parts resulting from the resurging Covid-19 cases recently in the Yangtze Delta region,” which includes the area where Li Auto’s factory is. Last month, Li Auto said it would increase the price of its Li-One car from 338,000 Chinese yuan ($53,147) to 349,800 yuan, effective from April 1. Li Auto is gearing up to release its next car, the L9 SUV, on April 16, as competition in China’s electric vehicle market continues to heat up.
Nio said it delivered 9,985 vehicles in March, up 62.8% from February. The company has delivered 25,768 vehicles in the first quarter of 2022, an increase of 28.5% year over year. That was a quarterly delivery record for the electric vehicle maker. Nio is the only company out of the three that is yet to raise the prices of its cars.
In March, BYD sold 104,878 electric and hybrid vehicles, up 333% vs. a year earlier, according to Chinese media reports. March EV sales rebounded 20% from February. BYD’s March total included 53,664 all-electric vehicles, up 229% from a year earlier. Plug-in hybrid sales skyrocketed 615% to 50,674. Amid the EV sales boom in China, electric vehicles already account for nearly all of BYD’s overall passenger vehicle sales. In 2018, EVs made up less than half of BYD’s total vehicle sales. The Chinese EV startups are emerging rivals to Tesla in China, the world’s largest market for electric cars. They sell mostly on home turf but are starting to expand in Europe.
