China's BYD breaks growth streak with July slump as EV price war reshapes competition

China's largest EV shaper BYD posted its archetypal monthly diminution this year, amid stiff contention from a terms warfare that has attracted attraction from policymakers successful Beijing.

While different large Chinese electrical conveyance makers, including Li Auto and Nio, besides reported a driblet successful July deliveries, Xpeng shipped a grounds fig of EVs successful July. There were besides agleam spots successful Xiaomi, Leapmotor and Aito, which recorded month-over-month growth.

BYD shipped 341,030 units successful July — down from 377,628 successful June — marking its archetypal monthly diminution this year. While the dip comes aft months of dependable maturation since the archetypal 296,446 deliveries successful January, it was up 0.07% from the aforesaid play past year.

The behemoth discounted respective of its lower-end battery-only and hybrid models by astir 30% successful May, prompting different automakers to follow suit. As the terms warfare intensified, China's apical leaders issued warnings to halt the excessive competition.

Li Auto reported 30,731 units successful July, down from 36,279 successful June and a diminution of 39.7% twelvemonth implicit year. This was its 2nd consecutive monthly diminution and among the steepest crossed Chinese EV makers.

Nio besides recorded a crisp driblet in July deliveries, with 21,017 units — down from 24,925 successful June, which had marked a year-high. On a year-over-year basis, it was down 2.7%, with drops crossed each of its 3 main merchandise lines.

Both Li Auto and Nio launched caller models connected July 31. Li Auto's archetypal axenic electrical athletics inferior vehicle, the Li i8, comes successful 3 variations, priced betwixt 321,800 and 369,800 yuan ($44,700 and $51,400). It is scheduled to statesman deliveries connected Aug 20.

Nio's caller SUV model, the L90, is priced astatine 265,800 yuan oregon 179,800 yuan with artillery subscription. Deliveries for the six-seater began connected August 1, with the seven-seater mentation scheduled for precocious September.

Meanwhile, Xiaomi reported much than 30,000 electrical conveyance deliveries this month, up from 25,000 successful June -- its strongest maturation since March. This maturation followed the launch of its YU7 SUV successful aboriginal July.

Xpeng, continuing its winning streak, delivered a grounds 36,717 units successful July — a humble summation from June and its ninth consecutive period of shipments exceeding 30,000 vehicles. On July 30, the institution announced that its second-generation Xiaopeng P7 sedan would debut successful China connected Aug 6.

The Harmony Intelligent Mobility Alliance, which is backed by Chinese exertion elephantine Huawei and includes brands specified arsenic Aito, Chery and Maextro, besides announced a transportation grounds of 47,752 units successful July. A bulk of its combined EV income were attributed to Aito's Wenjie series, which delivered 40,753 cars.

Leapmotor, backed by European car elephantine Stellantis, delivered 50,129 units successful July. This is its highest monthly income to date, continuing a dependable maturation trajectory.

In contrast, deliveries of Zeekr were level successful July. The Geely-owned institution shipped 16,977 vehicles, astir mirroring its show successful June.