The performance report of new energy vehicle companies in June is out! LI AUTO-W regains the top spot in new forces sales

According to the Financial Intelligence APP, on July 1st, several car companies released their June sales data for new energy vehicles. Many car companies performed well, with LI AUTO-W (02015) delivering over 40,000 units in a single month, reclaiming the top spot among new energy vehicle manufacturers. NIO-SW (09866) and ZEEKR (ZK.US) both delivered over 20,000 units in a single month, reaching a new historical high.

Specifically, in terms of new energy vehicle manufacturers, LI AUTO continued to top the list of new car deliveries for the month. In June 2024, LI AUTO delivered 47,774 new cars, a year-on-year increase of 46.7%. In the second quarter of 2024, deliveries reached 108,581 units, a year-on-year increase of 25.5%. As of June 30, 2024, LI AUTO's cumulative delivery volume reached 822,345 units, ranking first among Chinese new energy vehicle brands in total deliveries.

LI AUTO's Chairman and CEO, Li Xiang, stated that the sales momentum of the LI series continued to rise in June, with LI 6 delivering over 20,000 units and the total monthly delivery volume of all series exceeding 40,000 units. Since the second quarter, with the dual effect of the new LI 6 model launch and improved store efficiency, LI AUTO has returned to the top of the sales list for Chinese new energy vehicle brands and won the title of the best-selling Chinese automotive brand in the new energy vehicle market above 200,000 RMB.

Official data shows that as of June 30, 2024, LI AUTO has 497 retail centers nationwide, covering 148 cities; 421 after-sales service and authorized body repair centers, covering 220 cities. LI AUTO has put into operation 614 LI Supercharging stations nationwide, with 2,726 charging piles.

Geely Auto (00175) sold a total of 166,085 vehicles in June 2024, a year-on-year increase of 24%, and the group's management team decided to raise the full-year sales target by about 5%, from 1.9 million units to 2 million units.

In June 2024, XPeng Motors-W (09868) delivered a total of 10,668 new cars, a year-on-year increase of 24% and a month-on-month increase of 5%. Among them, the XPeng X9 "Nine Crown King" delivered 1,687 units, with a total of 13,143 units delivered in the first half year since its launch, leading the pure electric MPV and pure electric three-row seat vehicle market. From January to June 2024, XPeng Motors delivered a total of 52,028 new cars, a year-on-year increase of 26%.

In June 2024, NIO delivered a total of 21,209 new cars, a year-on-year increase of 98%, reaching a historical high. In the second quarter of 2024, NIO delivered 57,373 new cars, exceeding the delivery guidance, with a year-on-year increase of 143.9%. In the first half of 2024, NIO delivered a total of 87,426 new cars, a year-on-year increase of 60.2%. As of now, NIO has delivered a total of 537,020 new cars.

ZEEKR delivered 20,106 units in June 2024, a significant year-on-year increase of 89% and a month-on-month increase of 8%, breaking the 20,000 mark for the first time and reaching a historical high. In the first half of this year, ZEEKR delivered a total of 87,870 vehicles, a year-on-year increase of 106%, aiming to become the best-selling pure electric brand in China with over 200,000 units in 2024. Among them, ZEEKR 001 has delivered over 10,000 units for three consecutive months and has firmly held the top spot in the category of pure electric vehicles with over 250,000 units sold. By the end of June, ZEEKR has delivered over 280,000 vehicles.

In addition, Voyah saw an 83% year-on-year increase in deliveries in June, with a total of 30,376 units delivered in the first half of the year, a 102% increase year-on-year. IM Motors sold 6,015 vehicles in June, a 200% increase year-on-year, a 41% increase month-on-month, and a significant 200% increase year-on-year, entering the top ten in sales among "new forces in the Chinese market." SAIC-GM-Wuling's new energy vehicle sales reached 44,126 units, a 372.04% increase year-on-year, with SAIC-GM-Wuling vehicles accounting for 41,457 units, a 631.42% increase year-on-year. Li Auto sold 340,211 passenger vehicles in June, compared to 251,685 units in the same period last year. SAIC Group sold over 93,000 new energy vehicles in June, with cumulative sales exceeding 460,000 units in the first half of the year, a 24% year-on-year increase.

Previously, data released by the China Passenger Car Association showed that in June, the retail sales of new energy passenger vehicles in China are expected to reach 860,000 units, a 6.9% increase month-on-month and a 32.7% increase year-on-year, with a penetration rate expected to rise to 49.1%. The association stated, "Driven by the dual factors of new product launches and price reductions, the new energy market size will continue to grow steadily, with the penetration rate expected to reach a historical high."

The China Automobile Dealers Association stated that in June, the passenger car market entered the final period of the first half of the year, with strong willingness from car manufacturers and dealers to boost sales performance. In addition, incentives such as the "scrappage for new" policy and large-scale promotional activities like "618" have also contributed to the continued high demand for car purchases in June.

Looking ahead to the market performance, a research report from CITIC Securities is optimistic about the full-year sales volume and overseas prospects of the new energy vehicle market this year, especially with the "scrappage for new" policy introduced at the end of April expected to significantly boost annual sales. The sector's beta coefficient is expected to perform better in the second half of the year compared to the first half.