On December 1, it's time for automakers to hand in their report cards again. An old saying goes: Don't listen to what they say, watch what they do.

So, without further ado, let's take a look at the sales figures of the new forces in November. After the golden September and silver October, who will continue their glory?

01 Xiaomi

In November, Xiaomi delivered over 20,000 SU7 units. As a newcomer in the automotive industry, Xiaomi has consistently surprised everyone. Even though it's their first foray into car manufacturing, they have demonstrated remarkable organizational capabilities in manufacturing, marketing, sales, and supply chain management. Their original annual sales target was "at least 100,000, challenging 120,000," but it has now been revised to "exceeding 130,000 for the whole year."

In terms of monthly deliveries, sales exceeded 10,000 units in the third month and surpassed 20,000 in the seventh month. This ramp-up in production capacity is truly impressive. Xiaomi now has a backlog of SU7 orders. In the electric sedan segment, Xiaomi SU7 has risen to prominence, replacing Tesla Model 3 as the new benchmark. As a late entrant to the new energy vehicle market, Xiaomi has truly set an example for the entire automotive industry.

02 NIO

In November, NIO delivered 20,575 new vehicles, marking the seventh consecutive month of deliveries exceeding 20,000 units.

From January to November 2024, NIO delivered a total of 190,832 new vehicles. This is roughly in line with my earlier expectations, with NIO's overall deliveries for the year expected to be around 220,000. However, it should be noted that while NIO's deliveries consistently exceed 20,000 units, these figures include both NIO-branded vehicles (15,493 units) and LeTao vehicles (5,082 units).

If we delve deeper, September was the last month when NIO-branded sales exceeded 20,000 units.

In October, although NIO's total sales also exceeded 20,000 units, NIO-branded sales were 16,657 units, while LeTao sales were 4,319 units. Therefore, from this trend, it can be seen that NIO-branded sales have declined slightly.

During the Q3 2024 earnings call, William Li stated that "by 2025, NIO's gross margin for vehicle sales will gradually increase to 20%." "The company's goal is to achieve a 100% increase in sales by 2025 and become profitable by 2026." Previously, Li had said that "with monthly sales of 30,000 units and a gross margin of 20%, NIO can achieve profitability." For NIO, in addition to concerns about NIO-branded sales, there is also the issue of ramping up production capacity for the second brand, LeTao. The LeTao L60 is a highly competent model, but it is currently constrained by production capacity issues, leading to delays in deliveries. Especially when compared to Xiaomi SU7, LeTao's production ramp-up is unsatisfactory and requires careful reflection and adjustment.

03 XPeng

In November, XPeng sold 30,000 units, setting a new record and making history. This impressive performance can be attributed to XPeng's strong determination and effort.

After a near-death experience, XPeng has undergone a transformative rebirth: The launch of the M03 sparked the first wave of sales growth for XPeng. The P7+ followed as the second highly successful model. This at least demonstrates that the internal adjustments XPeng has undergone over the past one to two years are gradually bearing fruit, and XPeng now has its own approach to creating popular models.

In terms of production and sales, XPeng has also performed exceptionally well. After the M03 became a hit, XPeng seized the opportunity and effectively ramped up production capacity. Sales exceeded 20,000 units in both September and October.

On November 7, the P7+ was launched, and within 12 minutes, over 10,000 orders were placed. Within 3 hours, this figure surpassed 30,000. The limited edition sold out in just 5 minutes, setting a new record for XPeng's order history. The P7+ rolled off the production line 10,000 units in just 20 days after its launch, setting a new record for XPeng in terms of the fastest production of 10,000 units of a new model and also Breaking the record for the fastest offline speed of new vehicles by new forces . In addition, XPeng's deep dive into technologies such as AI, autonomous driving, and smart cabins has finally gained recognition from users. The establishment of the intelligent brand image has also garnered considerable goodwill and attention for XPeng.

All these factors have contributed to XPeng's monthly sales exceeding 30,000 units. Looking ahead, XPeng still has significant potential for future sales growth. It is believed that sales exceeding 40,000 units are not far off.

04 Li Auto

In November, Li Auto sold 48,740 vehicles. Compared to Li Auto's past performance, this figure is not particularly impressive. To achieve the goal of delivering 500,000 vehicles smoothly, Li Auto should have delivered around 53,000 vehicles this month. As of November 30, 2024, Li Auto had delivered a total of 441,995 vehicles in 2024.

This means that Li Auto needs to deliver 58,000 vehicles in December to meet its annual target. If this is achieved, it will directly break Li Auto's monthly delivery record. To boost sales, Li Auto decisively introduced a 0% interest plan for three years (announced on November 20). This strategy has proven to be highly effective and is an excellent means of stimulating sales growth. This tweet also became Li Auto's first post to surpass 100,000 likes during this period, demonstrating its strong appeal to users. We look forward to Li Auto's sales performance in December.

05 Leaping Auto

Leaping Auto has taken the lead.

In November, Leaping Auto sold 40,619 vehicles, setting a new record. From January to November, cumulative deliveries reached 251,207 units, surpassing the annual sales target ahead of schedule and becoming the first new energy vehicle brand to achieve this milestone.

Leaping Auto's success is mainly attributed to its strategy of offering high-quality products at low prices, pricing based on cost, and passing on some profit margins to consumers. This strategy is not easily replicable. On November 15, Leaping Auto unveiled its new B-series global model, the B10, at the Guangzhou Auto Show, and it will officially go on sale in the first quarter of 2025. In 2025, Leaping Auto will challenge the annual sales target of 500,000 units.

06 Nezha Auto

November sales figures have not been announced. End.