Other Than BYD, Potential EV Maker Stand Out In China Market?

BYD has aimed to sell 3 million vehicles in 2023 with a target optimistically set at 3.6 million, BYD has sold 133,785 pure EV in October.

That is a significant gain in sales for XPeng.

As we can see that Tesla sales did dropped by more than 30%.

As we can see that Tesla market share in China have dropped significantly and the share have went to BYD, Wuling and XPeng.

This resonates with what I recently saw in China cities where there are more BYDs and XPeng cars. I ask my associates in China, and they say that people have found that BYD and XPeng allows them to travel between cities with much convenience, especially with better batteries.

We may have seen news of improvement of the mileage of other brands, nothing beats understand how the consumers felt on-hand.

If we look at the top 10 selling models, BYD has occupied 4 places, and Tesla Model Y is doing pretty well despite having a drop in sales from September to October.

I would think November and December, we should be seeing more XPeng and Nio models coming into the table.

Chinese normally would like to change or buy new cars to prepare for the Chinese New Year festive happening in February 2024. Sales of EVs I would think should picked up in China in the month of November and December.

This article purely look at the number of EVs sales in the Chinese market, which is the largest EV market so far, with the new model announced by BYD, I believe it should maintain its leaderboard position.

What we need to pay attention to would be XPeng and Nio, these 2 companies are up and coming.

Appreciate if you could share your thoughts in the comment section whether you think XPeng and Nio are 2 up and coming EV makers in China, which should have a better sales coming up?

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.