Advertisement
Xpeng, NIO, Li Auto post lacklustre EV deliveries for February as Lunar New Year holiday disrupted sales and production
- Analysts predict sales will rebound sharply in March when consumer demand returns to normal after the traditional low season
- The Ministry of Finance slashed cash subsidies granted to encourage purchases of new-energy vehicles by 30 per cent this year
Reading Time:2 minutes
Why you can trust SCMP
1
China’s three biggest makers of smart electric vehicles (EVs) reported lacklustre deliveries for February as the Lunar New Year holiday disrupted sales and production.
Advertisement
Analysts predict sales will rebound sharply in March when the carmakers’ operations and consumer sentiment return to normal.
Guangzhou-based Xpeng Motors delivered 6,225 smart EVs last month, the first time it has failed to surpass the 10,000-mark since September. That represented just 39 per cent of the record 16,000 units it delivered to customers in December.
In January the carmaker backed by Alibaba, owner of the South China Morning Post, delivered 12,922 units.
Xpeng said a technology upgrade at its Zhaoqing plant during the Lunar New Year holiday from late January to early February resulted in a lower volume of deliveries.
Advertisement
Shanghai-headquartered NIO, which has been given the green light to trade its shares in Hong Kong through a secondary listing, sold 6,131 vehicles in February, down 36.5 per cent from the previous month.
Advertisement