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China EV Makers Post Higher April Sales Amid Price War

By Jiahui Huang and Ben Otto


BYD and a host of other Chinese electric-vehicle makers posted higher sales and deliveries in April, offering a sign of rebounding demand amid continuing price wars and government efforts to spur consumption in the world's largest EV market.

Warren Buffett-backed BYD, the world's largest maker of EVs, said Wednesday that its total sales jumped 49% from a year earlier to 313,245 vehicles for the month. That was 3.6% higher than March sales and marked the company's second straight month of selling more than 300,000 units.

Shanghai-based NIO said deliveries of its electric cars more than doubled from a year earlier to 15,620 vehicles, its highest growth rate since October 2022. That tally, helped by the release of new models during the month, marked an increase from 11,866 deliveries in March.

Deliveries of Guangzhou-based XPeng's EVs, meanwhile, rose 33% from a year earlier and about 4% from the previous month to 9,393 vehicles.

Chinese smartphone specialist Xiaomi reported 7,058 deliveries in its first month of selling EVs, while deliveries from Geely's Zeekr EV brand nearly doubled from a year earlier to 16,089 vehicles.

Hybrid-vehicle specialist Li Auto was a laggard for the month, with deliveries rising 0.4% from a year earlier--and falling 11% from March--to 25,787 vehicles. The year-over-year growth was its slowest monthly expansion since August 2022.

EV makers in China have been facing slowing demand growth in recent months amid overcapacity and lackluster consumption stemming from flagging growth in the world's second-largest economy. Many carmakers including heavyweights Tesla and BYD have responded with rounds of price reductions that have cut into bottom lines.

Price cuts deepened in April, and enthusiasm for the Beijing Auto Show and a raft of model releases helped sentiment. Beijing has been seeking to spur on new demand as well. A government policy released near the end of the month offered consumers replacing cars with electric or hybrid vehicles up to the equivalent of nearly $1,400.

Beijing-based Li Auto has faced challenges in its entry into the all-electric vehicle space, with its first such model missing analysts' sales forecasts in the first quarter after debuting with a slightly higher-than-expected price tag.

The company is also navigating intensifying competition from Seres, another hybrid-car specialist backed by Chinese telecom giant Huawei Technologies. Seres outdelivered Li Auto in the first quarter, tallying 85,842 units versus Li Auto's 80,400.


Write to Jiahui Huang at and Ben Otto at


(END) Dow Jones Newswires

May 01, 2024 08:22 ET (12:22 GMT)

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