According to Deutsche Bank, new inflows for the Nio brand in October are estimated at about 19,000 units, flat from September, while sub-brand Onvo is estimated at about 15,000 units in October.
China’s leading electric vehicle (EV) manufacturers are scheduled to announce October deliveries or sales results on Friday, and Deutsche Bank has continued to release its forecasts.
In a research note sent to investors yesterday, analyst Wang Bin and his team expect major EV companies to post record sales in October as well.
The team expects Nio (NYSE:NIO) to deliver approximately 24,500 units in the month of October, its highest monthly deliveries since its inception, a 53% year-over-year increase and an increase over the previous quarter. The ratio increased by 16%.
According to the research team, domestic retail sales of Nio reached a total of 20,500 units in the first four weeks of October.
Based on dealer feedback, new order flow for the Nio brand is estimated to be around 19,000 units in October, flat from September, while new order flow for sub-brand Onvo is around 15,000 units in October, the team said. said.
According to the team, deliveries of 832 Onvo L60s began in September, and deliveries are expected to reach approximately 3,600 units in October.
Nio advised that the monthly production capacity of L60 will increase from 5,000 units in October to 10,000 units in December, and then to 16,000 units and 20,000 units in January and March 2025, respectively.
To maintain the flow of new orders for the Nio brand, the company also ramped up promotions in October.
According to the team, Nio has increased the accessory purchase bonus by RMB 2,000 ($280) per vehicle, from RMB 18,000 in September to RMB 20,000 in October. This applies to all Nio branded products.
The Onvo L60 SUV (sports utility vehicle) was released on September 19th, and deliveries began on September 28th.
Nio Inc delivered 21,181 vehicles in September, marking the fifth consecutive month with more than 20,000 deliveries, including 20,349 for major Nio brands and 832 for Onvo.
Deutsche Bank expects Xpeng (NYSE: XPEV) to deliver approximately 23,000 vehicles in October, up 15% year over year and 8% sequentially, including Approximately 20,000 units, 3,000 units overseas.
According to the team, domestic retail sales of Xpeng reached a total of 17,000 units in the first four weeks of October.
The team estimates that October deliveries of the Xpeng Mona M03 sedan will be approximately 10,000 units, and deliveries of other products will be approximately 13,000 units.
Based on dealer feedback, Xpeng’s new order flow in October is estimated at approximately 33,000 units, including approximately 20,000 units for Mona M03 and 13,000 units for other products, Wang’s team said. Ta.
The Mona M03 has been a huge success, with a current non-cancellable backlog of more than 30,000 orders, with waiting times of 10-14 weeks and 13-17 weeks for long-range and ultra-long-range versions, respectively. team.
Xpeng’s other product incentives remained stable in October, with subsidies ranging from 20,000 to 25,000 yuan per unit for the P7i sedan and 15,000 yuan per unit for the G9 SUV. , the G6 SUV was given a subsidy of 10,000 to 15,000 yuan per unit.
Xpeng delivered 21,352 vehicles in September, and Mona M03 delivered more than 10,000 units in its first full delivery month.
Deutsche Bank expects Li Auto (NASDAQ: LI) to deliver approximately 55,000 units in October, up 36% year-over-year and 2% sequentially, setting a new record for monthly deliveries. .
According to the team, the company’s domestic retail sales reached 45,500 units in the first four weeks of October.
The team said based on feedback from dealers, Li Auto’s new order flow is expected to be around 57,000 units in October, compared to around 54,000 units in September.
Li Auto now offers 1.99% low interest auto financing on all products. Additionally, other promotions remain unchanged, including an additional purchase incentive of 8,000 yuan for Li L6 and 5,000 yuan for Li L7, Li L8, and Li L9. And Lee Mega.
Li Auto delivered a record 53,709 units in September, an increase of 48.94% from the previous year and an increase of 11.61% from August.
Deutsche Bank reports that BYD (HKG: 1211, OTCMKTS: BYDDY) wholesale volume from automakers to dealers reached a record high of approximately 520,000 units in October, an increase of 72% year-on-year and 24% quarter-on-quarter. We expect it to increase.
According to the team, in the first four weeks of October, BYD’s wholesale sales were 444,965 units and domestic retail sales were 369,000 units.
Deutsche Bank estimates that BYD’s domestic deliveries in October were approximately 420,000 units, an increase of 10% from the previous quarter and 75% from the same period last year, marking the highest monthly delivery volume since the company’s founding.
Based on feedback from dealers, BYD’s new order flow in October is estimated to be around 550,000 units, compared to around 450,000 units in September, the team said.
BYD’s wholesale sales of new energy vehicles (NEVs) in September reached 419,426 units, marking the fourth consecutive month at a record high.
Deutsche Bank estimates that Tesla’s (NASDAQ: TSLA) deliveries in China in October totaled about 47,000 vehicles, up 53% year-over-year but down 34% quarter-over-quarter.
The team said that in the first four weeks of October, Tesla retail sales in China totaled 34,000 units.
According to the China Passenger Car Association (CPCA), Tesla China sold 88,321 Chinese-made cars in September, of which 16,121 were exported.
The US EV maker sold 72,200 units in China in September, surpassing August’s 63,456 units and marking its highest year-to-date sales, according to CnEVPost calculations.
On October 27, Tesla extended its five-year interest-free loan in China until November 30, further extending this car purchase incentive that began in April.
Yesterday, Model 3 wait times in China were reduced to 2-4 weeks from the previous 4-6 weeks, while Model Y remained at 1-3 weeks.
Deutsche Bank estimates that Zeekr (NYSE: ZK) will deliver approximately 23,000 units in October, up 76% year-over-year and 8% sequentially. This includes approximately 10,000 Zeekr 7X SUVs and approximately 13,000 other products.
According to the team, domestic retail sales of Zeekr in the first four weeks of October totaled 20,000 units.
Deutsche Bank said based on feedback from dealers, new order flow for Zeekr in October is estimated at about 22,000 units, compared to about 30,000 units in September.
According to the team, Zeekr launched its second MPV product, Zeekr Mix, in the price range of 280,000 yuan to 300,000 yuan on October 23, but new orders have been limited so far.
Zeekr delivered a record 21,333 vehicles in September, surpassing 20,000 in its second month.
Wang’s team estimated that Leap Motor delivered about 36,500 units in October, doubling the number from a year ago and increasing 8% from the previous quarter. This includes domestic retail sales of approximately 34,500 units and exports of approximately 2,000 units.
Domestic retail sales of Leap Motor reached a total of 29,000 units in the first four weeks of October.
Based on dealer feedback, Leapmotor’s new order flow in October is estimated at 48,000 units compared to approximately 40,000 units in September.
Thanks to strong new orders, in October the company increased the auto financing subsidy for the sedan “C01”, SUV “C10”, “C11”, and SUV “C16” from 10,000 yuan per vehicle to 5,000 yuan per vehicle. and reduced promotional activities.
According to Deutsche Bank, the cash discount of 1,000 yuan to 1,500 yuan per vehicle has also been abolished for the C01 sedan and C10 SUV.
Leap Motor delivered 33,767 vehicles in September, marking the second consecutive month with over 30,000 vehicles and the fourth consecutive month of record sales.
The team estimates Aito will deliver approximately 35,000 units in October, flat year over year. Domestic retail sales of the Aito brand reached 29,000 units in the first four weeks of October.
(1 dollar = 7.1319 RMB)
China EV insurance registrations for the week ending October 27: Nio 4,200, Tesla 10,500, Xiaomi 5,700, BYD 95,600