October NEV Sales Soar: BYD Tops 500,000 Units Sold

Entering into November of 2024, major players in China auto market and traditional automakers, such as BYD, Li Auto, Leapmotor, Geely and etc., have reported their October performance, depicting a golden October sale season with substantial growth and new records in monthly deliveries.

The market witness a record-breaking October sales, especially on NEVs. While, after check out the model sales volumes, we see remarkable increase in EREV models. Take Li Auto, Leapmotor, and Seres for example, the delivery volumes for October are all supported by EREV models.

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Let’s check out the detailed data.

BYD

BYD remains far ahead with its monthly record-breaking sales volume of surpassing 50,000 units for the first time, selling an impressive 502,657 NEVs in October, makrking a YoY surge of 66.5%. Among all the models, 189,614 all-electric vehicles and 310,912 plug-in hybrid vehicles are sold.

Li Auto

Li Auto delivered 51,400 vehicles, gaining a 27.3% growth compared to the same time of last year. As of October 31, 2024, Li Auto cumulatively delivered 1,026,619 units, making it the first Chinese luxury car brand to surpass the one million delivery milestone.

Leapmotor

Leapmotor delivered 38,177 units in October 2024, securing its second place among NEV startups. This figure marks a significant year-on-year increase of over 109%. Leapmotor, with its focus on the all-electric compact cars and EREV models, has seen a continuous increase in sales in recent months, and marks five consecutive months of record monthly deliveries. The SUV family, including C16, C10, and C11, contributed to the increase.

Seres

Seres delivered 36,011 NEVs in October, not bad though, marking a year-on-year increase of 104.61%. In the first ten months of 2024, Seres cumulatively sold 352,724 NEVs, soaring 310.99%. increase YoY. The company’s strong performance is due to the recent launch of the new M5, M7 Pro, and the five-seat M9.

Xpeng

Xpeng set a record this October in sales. Securing 23,917 vehicles delivered in October, Xpeng saw a remarkable 20% increase YoY. According to the Chairman He Xiaopeng, the new MONA M03 model is expected to lead Xpeng into a strong product cycle, thus the company is confident in a continued growth in the upcoming months.

NIO

NIO’s deliveries reached 20,976 units in October, a 30.5% year-on-year rise, marking the sixth consecutive month of over, 20,000 units delivered. NIO's new brand Onvo delivered 4,319 vehicles in October. From January to October, NIO has delivered a total of approximately 170,257 vehicles, marking a 35.05% increase YoY.

Geely Auto Group

Geely Auto Group also hit a record high in NEV models sales. In October, Geely sold  108,722 units of NEVs, a 83% YoY surge, benefiting from the increasing sales from the Galaxy E5 and revised models from Zeekr. Geely Galaxy and Zeekr delivered 63,492 units and 25,049 deliveries in October, respectively.

Changan Automobile

Changan sold over 85,000 NEV units in October. Changan Qiyuan sold 18,000 units, Changan Deepal ensured 27,862 units delivered, and Avatr made a record-breaking monthly delivery figures of over 10,000 units for the first time, with 10,056 units delivered. Accumulatively, Changan’s NEV sales surpassed 530,000 units, a 45% year-on-year increase in the first ten months in 2024, and showcasing a growing trend this year.

Chery Holding Group

Chery Holding Group achieved a new milestone as well. In October, Chery sold over 71,330 units of NEVs, marking its first time surpassing 700,000 units. From January to October, Chery sold 403,188 units of NEVs, marking a significant increase of 205.4% YoY.

Great Wall Motor

Great Wall Motor made a slight year-on-year increase of 6.34% in NEV sales in October, with 32,039 units sold. The company also announced its plan to further increase its investment in Thai market with up to 23 billion Thai Baht (approximately ¥4.9 billion) in the next three years on constructing new factories, developing new vehicle models, and producing batteries.