Electric vehicle (EV) makers in China are gearing up for the release of their April delivery numbers, with Deutsche Bank providing a preview of what to expect. According to analyst Wang Bin, Nio Inc is anticipated to report retail sales of 25,000 units in April, marking a significant increase of 60 percent year-on-year and 66 percent sequentially.
The three brands under Nio Inc, namely Nio, Onvo, and Firefly, are expected to contribute to the total sales with 20,000 units, 4,400 units, and 600 units respectively. In the first four weeks of April, domestic retail sales for Nio Inc totaled 21,400 units. The new order flow for Nio Inc in April is projected to grow by 80 percent sequentially to about 36,000 units, based on dealer feedback.
Tesla, on the other hand, is expected to see a decline in new orders in China for April. Wang predicts that Tesla will have approximately 30,000 retail sales in China, a 7 percent decrease year-on-year and a 58 percent decline sequentially. The new order flow for Tesla’s China operations is estimated to be around 40,000 units for the month, with Model Y crossovers accounting for 30,000 units and Model 3 sedans for 10,000 units.
Deutsche Bank also provided insights into other EV makers in China. BYD is expected to report wholesale volume of about 360,000 to 370,000 units in April, slightly lower than the previous month. Xpeng is projected to deliver about 34,000 units in April, marking a significant increase year-on-year. Li Auto is anticipated to deliver around 34,500 units in April, with new orders for their L-series and Li Mega electric MPV models driving the sales.
Xiaomi EV is expected to see a slight decline in deliveries in April, mainly due to a recent highway accident and concerns from buyers about long waiting periods. Zeekr Group is forecasted to report domestic deliveries of 33,000 units in April, with total sales reaching 38,300 units when exports are taken into account.
Overall, the EV market in China continues to show strong growth, with each manufacturer making significant strides in sales and new orders for their electric vehicles. Stay tuned for the official April delivery numbers to see how these projections align with the actual results.
