Tesla and NIO Growing in China, While Luxury Gas Car Sales Plummet
In September, China-based electric automakers NIO, Xpeng Motors and Li Auto saw a major uptick in deliveries, alongside U.S. electric automaker Tesla, who reached record deliveries in China in the same month – though fuel luxury carmakers were not quite so lucky.
Tesla and NIO’s year-over-year deliveries in September far outperformed those of luxury gas cars, according to data shared on Wednesday by the China Passenger Car Association (CPCA) (via CNEVPost).
The Tesla Model Y, which was released in January in the market, also sold an impressive 33,033 units during the month, which was evidenced by long lines of Tesla Model Y vehicles getting registered at many of the country’s Departments of Motor Vehicles (DMVs).
NIO Shares Rise as Goldman Sachs Upgrades Chinese EV Maker https://t.co/loXll1c7YA
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The Tesla Model 3 sold 19,120 units total, with the NIO ES6 having sold 5,260 units while the NIO EC6 sold 3,390 units. Last September was NIO’s first delivery month, in which the company heralded a baffling 16 units.
While sales of the Tesla Model 3 were up 68.8 percent year-over-year, the NIO ES6 and EC6 were up 63.9 percent and 21,087.5 percent, respectively – with the Mercedes-Benz E-Class down 52.6 percent and the Audi A4 down 53.4 percent.
Along with the Mercedes-Benz E-Class and Audi A4, which sold just 8,136 units and 6,881 units, respectively, other luxury fuel vehicles that suffered included the BMW 5 Series, BMW 3 Series, the Audi A6, the Hongqi H9, the Volvo S90, the Cadillac CT6 and the Phideon.
As traditional automakers continue to be affected by the global semiconductor shortage, Tesla on the other hand had a record third quarter in China, delivering over 241,000 vehicles. The company will announce its Q3 2021 earnings on October 20, 2021.