Deutsche Bank is anticipating a strong performance from major electric vehicle (EV) manufacturers in China for the month of November. According to their forecasts, the Nio brand is expected to deliver 17,000 units, while the Onvo sub-brand is projected to deliver 5,000 units.
In a recent research note to investors, analyst Wang Bin’s team highlighted the continued momentum of major EV players in the market. They predict that Nio will retail 22,000 units in November, representing a 38 percent year-on-year increase and a 5 percent sequential increase.
The team also shared that Nio’s domestic retail sales for the first three weeks of November totaled 14,000 units. Based on dealer feedback, they estimate that Nio’s total new order flow for the month will be around 30,000 units, with the Nio brand accounting for approximately 17,000 units and the Onvo brand for around 13,000 units.
Furthermore, Nio Inc had previously delivered 20,976 vehicles in October, with the company guiding fourth-quarter vehicle deliveries to be in the range of 72,000 to 75,000 vehicles. This guidance suggests that Nio could deliver a total of 51,024 to 54,024 vehicles in November and December, with full-year deliveries expected to be in the range of 221,000 to 224,000 vehicles.
Deutsche Bank also expects other EV manufacturers to perform well in November. They forecast BYD to achieve a record wholesale volume of around 520,000 units for the month, an increase of 72 percent year-on-year. Tesla China is expected to deliver a record 80,000 vehicles in November, representing an 18 percent year-on-year increase.
Additionally, Li Auto is projected to deliver about 52,000 units in November, while Xpeng is expected to report retail sales of around 30,000 units. The team also anticipates Zeekr to retail 30,000 units, Leapmotor to sell 40,000 units, and Aito to deliver approximately 31,000 units in November.
Overall, the EV market in China is showing strong growth and momentum, with major players expected to deliver impressive sales figures for the month of November. Deutsche Bank’s forecasts provide insights into the performance of key EV manufacturers and highlight the continued demand for electric vehicles in the market.
