Overview

• BYD’s July deliveries fell to 341,030 units from 377,628 in June, marking its first monthly decline this year and putting its 5.5 million annual target under pressure.
• Li Auto and Nio posted sharp month-over-month drops with July shipments at 30,731 and 21,017 units, respectively, extending their delivery slowdowns.
• Xpeng, Xiaomi, Leapmotor and Aito each achieved record or month-over-month growth in July, delivering 36,717, over 30,000, 50,129 and 40,753 vehicles.
• Chinese authorities have pledged to crack down on heavy discounts after BYD’s May price cuts ignited a fierce EV price war across the sector.
• Tesla’s Shanghai factory and European registrations contracted again in July, and Volvo extended a five-month global sales downturn with a 14 percent year-on-year decline.