Chinese EV Makers Surge in Sales as BYD Tops Annual Target Early

BYD leads the charge with record-breaking sales, while Nio, XPeng, and others push aggressive growth strategies to close the year strong.

BYD sold over 504,000 vehicles in November, surpassing its 2024 goal of 3.6 million deliveries a full month early, with 3.74 million units sold year-to-date.
XPeng achieved a record 30,895 deliveries in November, marking a 54% year-over-year increase, driven by strong sales of its Mona M03 and P7+ models.
Nio's November deliveries reached 20,575 vehicles, including 5,085 units from its sub-brand Onvo, but the company needs to deliver over 30,000 units in December to meet its quarterly guidance.
Tesla reported 78,856 sales in China for November, a 15.5% sequential increase, supported by discounts and 0% interest financing offers for its Model 3 and Model Y.
Li Auto delivered 48,740 vehicles in November, an 18.8% year-over-year increase, but saw its second consecutive monthly decline in deliveries.