Overview

• BYD shipped 341,030 electric vehicles in July, down 10% from June and marking its first monthly decline this year.
• Li Auto and Nio saw significant delivery drops with 30,731 and 21,017 units shipped respectively in July.
• Xpeng, Xiaomi and Leapmotor each set new July delivery records with 36,717, over 30,000 and 50,129 units.
• Deep price cuts of around 30% on BYD’s lower-end models in May ignited an aggressive discount battle across the sector.
• BYD’s midyear tally of 2.49 million units leaves its 5.5 million sales goal for 2025 in doubt given current demand and pricing pressures.