The flagship store of Xiaopeng Motors in Shanghai, China, on Feb. 18, 2025.
CFOTO/Future Publishing via Getty Images
Chinese electric car company Xpeng delivered more than 30,000 cars for a fourth-straight month in February, as its mass-market brand helped the company stand out in an otherwise tepid market.
Xpeng delivered 30,453 cars last month, including more than 15,000 units of its lower-priced Mona vehicle, the company said over the weekend.
Deliveries of the Mona M03, which include a basic driver-assist system, have topped 15,000 a month since December, according to company figures. Xpeng also said strong demand for driver-assist propelled deliveries of its P7+ electric sedan to more than 30,000 less than three months since its launch in November.
Looking ahead, Xpeng’s planned new vehicles also give the company “a good chance to extend its solid delivery momentum,” Nomura analysts said in a Sunday note.
The January to February period tends to be seasonally soft for Chinese car sales since it coincides with the week-long Lunar New Year, the country’s biggest holiday of the year. The local auto market remains highly competitive as traditional automakers and new entrants have rushed to cut prices and launch vehicles with new tech features.
Chinese smartphone company Xiaomi delivered more than 20,000 electric cars for a fifth straight month in February. The company last week slashed the starting price of its luxury electric sedan, the SU7 Ultra, to 529,900 yuan ($72,750), down from 814,900 yuan ($111,878).
The SU7’s “new order situation is even better than actual sales,“ Nomura analysts said, citing its own industry survey. That means the only challenge for Xiaomi is its ability to produce enough cars, the analysts said.
Figures on Tesla‘s China deliveries are typically released around the middle of the month.
Industry giant BYD reported 318,233 new energy vehicle passenger car sales in February, up slightly from the prior month. The company last month announced it was rolling out driver-assist across a range of its cars and integrating artificial intelligence from DeepSeek.
Geely-owned Zeekr delivered 14,039 units in February, up from the 11,942 delivered the previous month, according to company figures.
EV brands that struggled in February
However, deliveries of several other major Chinese electric car brands declined over that time.
Li Auto deliveries fell to 26,263 units last month, from 29,927 in January, according to the company. Its premium-priced vehicles have been popular with Chinese consumers since they come with a fuel tank for extending the battery’s driving range. Last month, Li Auto revealed the exterior design of its first fully battery-electric SUV.
Nio deliveries dropped to 13,192 units in February, down from 13,863 the month before. The company announced a five-year, 0% interest plan on Feb. 1 in a bid to boost sales.
Aito, the Seres-owned brand that uses Huawei technology, reported its lowest deliveries in a year, at 21,517 units in February, according to CNBC analysis of publicly available figures.