5 Chinese EV makers set monthly sales records as discounts draw young buyers

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Top Chinese electric vehicle (EV) makers rode discounts and promotions to higher sales in September, as five companies - BYD, Leapmotor, Li Auto, Xpeng and Zeekr - set new monthly delivery records.

"September was a high season for car sales, and the major players, after launching new models and offering price cuts, took advantage of consumers' buying interest to propel their sales," said Phate Zhang, founder of Shanghai-based electric-car data provider CnEVPost. "The upwards momentum is set to continue in the coming months now that more Chinese motorists prefer EVs to petrol cars."

Nearly all Chinese EV builders unveiled new models in the third quarter, showcasing high-performance batteries and advanced semi-autonomous driving software as they mount a challenge to Tesla's bestselling Model 3 and Model Y vehicles.

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BYD, the world's largest electric car assembler, shipped a record 419,426 EVs in September, charting 12.4 per cent month-on-month growth and a 45.9 per cent improvement compared with a year ago. It was the company's fourth straight record month.

Li Auto, Tesla's nearest rival in mainland China, sold 53,709 vehicles, rewriting its previous record of 51,000 units in July. September sales rose 11.6 per cent compared with August and 48.9 per cent year on year.

Xpeng delivered an all-time high of 21,352 cars, breaking its December record of 20,041, as sales rose 52.1 per cent above August's and increased 39.5 per cent year on year. Xpeng on Tuesday reported September sales of 10,000 units of the M03, the first car from its budget brand Mona, which only hit the market in late August.

Zeekr, the premium EV maker controlled by Geely Auto, delivered 21,333 vehicles, up 18.4 per cent month on month and 77 per cent year on year. It bested its June record of 20,106 units by 6.1 per cent.

Stellantis-backed start-up Leapmotor broke its August record of 30,305 units by delivering 33,767 cars, up 11.4 per cent month on month and 113.7 per cent year on year.

Nio sold 21,181 vehicles in September, barely missing June's high of 21,209. Its sales grew 5 per cent compared with August and 35.4 per cent year on year.

"Electric cars have become the primary choice for most young drivers because of their awareness of environmental protection and interest in the vehicles' intelligent features," said Zhao Zhen, a sales director at Shanghai-based dealer Wan Zhuo Auto. "EVs' market share will keep rising in the coming months."