Electric vehicles (EVs) continue to be popular in China, with deliveries during the month of August rising more than 20% from a year ago.
Over the weekend, Chinese electric vehicle makers Li Auto (LI), Nio (NIO), XPeng (XPEV) and BYD (BYD) each reported their sales for the month of August.
Collectively the automakers delivered 82,334 electric vehicles, up more than 20% from last year. It was the second consecutive month that deliveries in China topped 80,000 units.
Deliveries are a close approximation of the number of vehicles sold.
So far in 2024, the four leading domestic Chinese EV makers have sold nearly 495,000 electric vehicles, up about 34% from the same period in 2023.
The data shows that Chinese EV sales continue to grow at a brisk clip and are taking market share from traditional gasoline-powered vehicles.
Sales of electric vehicles within China, including plug-in hybrids, now account for more than 50% of all new automotive sales in the nation of 1.4 billion people.
Li Auto led the Chinese EV makers in August, with deliveries of 48,122 vehicles, up 38% from a year ago. BYD, China’s largest EV maker, sold 370,084 units in August, up 35% from last year.
XPeng delivered 14,036 cars in August, up about 1% from a year ago, and Nio delivered 20,176 vehicles in August, up 4% from the same month in 2023.
The leading foreign electric vehicle maker in China is Tesla (TSLA), which gets about one-third of its global sales from the Asian nation.
Tesla doesn’t report monthly sales figures, but the company has sold about 325,000 vehicles in China this year, flat compared with the same period of 2023
