The monthly sales results for new energy vehicle manufacturers have arrived as scheduled. After bidding farewell to the "golden September and silver October", the competition in the automotive market became increasingly intense in November.

Data shows that BYD continues to dominate, with sales exceeding 500,000 vehicles again in November, firmly establishing itself as the leader in the new energy vehicle market.

Sales of Li Auto remain stable, with monthly sales consistently above 40,000 vehicles; Leap Motor delivered over 40,000 vehicles for the first time in a single month; ARCFOX and XPeng delivered over 30,000 vehicles for the first time in a single month; VOYAH and AVATR delivered over 10,000 vehicles each month.

Xiaomi SU7, a "rising star" in the automotive industry, continued to deliver over 20,000 vehicles and expressed confidence in achieving its annual new delivery target of over 130,000 vehicles.

BYD 'crazily' sells 500,000 vehicles, leading by a wide margin

In November, BYD remained the undisputed sales leader without any suspense.

On December 1, BYD announced that its new energy vehicle sales in November reached 506,800 vehicles, of which 504,000 were passenger cars, marking a year-on-year increase of 67.2%. This achievement once again broke BYD's monthly sales record, with new energy vehicle sales exceeding 500,000 for two consecutive months.

In the first 11 months of this year, BYD's new energy vehicle sales reached 3,757,300, a year-on-year increase of 40.02%. Given this momentum, with the year-end car-buying peak approaching, there is little doubt that BYD will surpass 4 million sales this year.

Breaking it down, in November, BYD sold 485,200 vehicles under the Qin and Tang Dynasties series and the Ocean series; 8,521 vehicles under the FANGCHENGBAO brand; 10,002 vehicles under the DENZA brand; and 302 vehicles under the BYD Look up brand.

JPMorgan recently issued a report significantly raising its target stock price and sales forecast for BYD, predicting that BYD's global deliveries will reach 6 million by 2026.

Emerging forces come on strong: Leap Motor meets its target ahead of schedule, and XPeng exceeds 30,000 vehicles for the first time

Among the emerging automakers, Li Auto, Leap Motor, XPeng, NIO, Thalys, and Xiaomi performed strongly.

As the sales champion among China's emerging forces, Li Auto sold 48,740 vehicles in November. Although this figure declined month-on-month, it remains a benchmark for most emerging brands. From January to November, Li Auto delivered a cumulative total of 441,995 vehicles, with a historical cumulative delivery of 1,075,359 vehicles.

Li Xiang, Chairman and CEO of Li Auto, said, "In the passenger car market above RMB 200,000, Li Auto has been the sales champion among Chinese brands for eight consecutive months, surpassing Audi and BMW in sales in the Chinese market for three consecutive months from August to October this year."

Leap Motor, the "dark horse" in sales, crossed the threshold of 40,000 monthly sales for the first time this month. In November, Leap Motor delivered 40,169 vehicles, a year-on-year increase of 117%.

From January to November, Leap Motor delivered a cumulative total of 251,207 vehicles, a year-on-year increase of 100%, achieving its 2024 sales target of 250,000 vehicles ahead of schedule and becoming the first automaker to meet its sales target for the year.

Zhu Jiangming, founder, chairman, and CEO of Leap Motor, said, "After nine years of manufacturing cars, we have experienced the darkest moments, surpassed the milestone of 550,000 vehicles, and received encouragement from countless users. In 2025, Leap Motor will challenge the annual sales target of 500,000 vehicles."

XPeng also delivered impressive monthly sales results in November, delivering 30,895 new vehicles, a year-on-year increase of 54% and a month-on-month increase of 29%, with monthly deliveries exceeding 30,000 for the first time. From January to November, XPeng delivered a cumulative total of 153,400 new vehicles, a year-on-year increase of 26%.

Some believe that the increase in XPeng's sales in recent months is directly related to the launch of its two popular models, the XPeng MONA M03 and XPeng P7+.

Specifically, the XPeng MONA M03 was launched on August 27, with a starting price of RMB 119,800. It delivered over 10,000 vehicles consecutively for three months after its launch. The XPeng P7+ was launched on November 7 and delivered over 7,000 vehicles in just 23 days after its release.

NIO delivered 20,575 vehicles in November, a year-on-year increase of 28.9%. Among them, 15,493 were high-end smart electric vehicles under NIO's own brand, and 5,082 were family smart electric vehicles under NIO's Letao brand.

As of November 30, 2024, NIO had cumulatively delivered 640,426 vehicles.

During the third-quarter earnings call this year, Li Bin, CEO of NIO, revealed that NIO's most premium model, the ET9, has entered the final stage of testing and preparation before mass production and will be delivered in March next year. Meanwhile, NIO's products will gradually transition to a new-generation platform next year, ushering in a new product cycle.

The production and sales report for November released by Thalys shows that Thalys sold 36,842 new energy vehicles in November, a year-on-year increase of 54.58%. From January to November this year, Thalys sold a cumulative total of 389,566 new energy vehicles, a year-on-year increase of 255.26%.

Since the beginning of this year, the AITO product matrix has continued to expand, with the launch of the new AITO M5, new AITO M7 Pro, and the five-seat version of the AITO M9. In 2024, the cumulative deliveries of the new AITO M7 exceeded 180,000, maintaining its position as the top-selling new force model in China for 11 consecutive months.

Xiaomi Automobile once again achieved monthly sales of over 20,000 vehicles. Lei Jun, the founder of Xiaomi, said, "This is the second consecutive month that our deliveries have exceeded 20,000 vehicles, and our annual target has been raised to 130,000 vehicles."

Traditional automakers are gaining momentum and demonstrating strong catching-up potential

In terms of product diversity, traditional automakers have a clear advantage. For example, Geely and Changan have multiple brands that cover new energy vehicles, forming a powerful brand matrix.

Data shows that Geely sold 122,453 new energy vehicles in November, a month-on-month increase of 12.6% and a year-on-year increase of 88.3%, setting a new record.

Among them, Zeekr delivered 27,011 vehicles in November, setting another record, with a year-on-year increase of 106% and a month-on-month increase of 8%, cumulatively delivering over 390,000 vehicles. In addition, Geely Auto's Silver Galaxy series sold 75,228 vehicles, and Lynk & Co.'s new energy vehicles sold 20,084 vehicles. From January to November this year, Geely sold a cumulative total of 777,029 new energy vehicles, a year-on-year increase of 82%.

Supported by its three major brands, "Deep Blue," "Qiyuan," and "AVATR," Changan Automobile has potential comparable to that of Geely Automobile.

According to Changan Automobile's official Weibo account, in November 2024, Changan Automobile sold over 100,000 new energy vehicles for the first time, with cumulative sales exceeding 640,000 from January to November 2024.

Specifically, as a new energy vehicle brand created by Changan Automobile, Deep Blue sold 36,026 vehicles in November, a year-on-year increase of 122.96% and a month-on-month increase of 29.30%. In comparison, Deep Blue has achieved significant year-on-year and month-on-month growth for two consecutive months. Additionally, Changan Qiyuan sold 18,455 vehicles in November, and AVATR sold 11,579 vehicles.

BAIC BJEV sold 15,198 new energy vehicles in November, with ARCFOX delivering 11,122 vehicles. Among them, the new Alfa T5 sold 4,310 vehicles in a single month, the new Alfa S5 sold 4,459 vehicles, and the Koala S sold 2,126 vehicles. To date, ARCFOX has sold over 10,000 vehicles for four consecutive months, demonstrating its own "ARCFOX speed."

Relying on SAIC, IM Motors sold 10,007 vehicles across its entire product line in November, roughly the same as the 10,001 vehicles sold in October this year, representing a year-on-year increase of approximately 15% compared to the 8,703 vehicles sold in November last year.

VOYAH, a new energy brand under Dongfeng Motor Corporation, delivered 10,856 new vehicles in November, a year-on-year increase of 55%, making it the third consecutive month that the brand has joined the "10,000-vehicle club." From January to November, VOYAH delivered a cumulative total of 73,561 vehicles, a year-on-year increase of 81%.

The collective outstanding performance of new energy automakers in November was not accidental. On the one hand, major automakers have continuously invested in technological research and development and product innovation, continuously enhancing their product capabilities. On the other hand, at the marketing level, automakers have increased brand promotion efforts, enhancing brand awareness and reputation, further promoting sales growth.