As we anticipate the upcoming May delivery announcements from major electric vehicle (EV) manufacturers, Deutsche Bank analysts have shared their insights on what to expect from Nio Inc, Tesla, BYD, Xiaomi, Xpeng, Li Auto, Zeekr Group, and Leapmotor.
Nio Inc is projected to deliver approximately 27,000 units in May, marking a 31 percent year-on-year increase and a 13 percent sequential increase. The bank’s analysts forecast that the Nio main brand will account for 17,000 units, with 7,000 units for Onvo and 3,000 units for Firefly. The launch of new models like the facelifted ES6 SUV and EC6 coupe SUV, as well as the all-new sedans ET5 and ET5T, is expected to drive an increase in new orders for the Nio brand.
Tesla’s deliveries in China for May are expected to reach around 39,000 units, showing a 32 percent sequential increase but a 30 percent year-on-year decrease. Despite the dip in year-on-year figures, Tesla’s domestic retail sales in China totaled 32,000 units in the first four weeks of May. The Model Y is expected to account for the majority of new orders, with 31,000 units, followed by 8,000 units for the Model 3.
BYD is anticipated to report wholesale volume of about 390,000 units in May, up 3 percent sequentially. The company is expected to deliver around 290,000 units domestically in China, marking a 10 percent year-on-year increase. Increased retail price discounts have contributed to a rise in new orders, which are estimated to reach about 350,000 units.
Xiaomi is expected to deliver approximately 28,000 units in May, with domestic retail sales totaling 25,000 units in the first four weeks of the month. The new order flow for Xiaomi EV is projected to be around 23,000 units, with concerns about the NEV purchase tax and trade-in subsidy impacting buyer decisions.
Xpeng is forecasted to deliver about 32,000 units in May, showing a significant 215 percent year-on-year increase. Domestic retail deliveries are expected to reach 28,000 units, with overseas deliveries accounting for 4,000 units. Despite maintaining promotional efforts, new order flow for May is estimated to be around 34,000 units.
Li Auto is projected to deliver 45,000 units in May, up 28 percent year-on-year and 33 percent sequentially. The company’s new order flow is expected to be around 55,000 units, driven by the launch of refreshed models like the Li Mega MPV and L-series EREV models.
Zeekr Group is anticipated to achieve total sales of 43,000 units in May, with domestic deliveries reaching about 40,000 units. This includes around 17,000 units under the Zeekr brand and 23,000 units under the Lynk & Co brand. Leapmotor is expected to sell approximately 41,000 units in May, with domestic retail sales estimated at about 33,000 units.
As the EV market continues to evolve and intensify in competition, each manufacturer’s performance in May will provide valuable insights into the industry’s growth and development. Stay tuned for the official delivery announcements from these prominent EV makers.
