In April, the new forces list was released, with Xiaomi delivering 7,058 cars, and Aiways and Li Xiang both breaking 100,000 in cumulative sales this year.

On May 1st, various new energy vehicle companies successively announced their April sales performance.

Among the new energy vehicle companies that have released delivery data, Hongmeng Zhixing delivered a total of 29,632 vehicles in April, and the official statement claimed that it has been the monthly sales champion of new energy vehicle brands in the Chinese market for four consecutive months. GAC Aion sold 28,113 vehicles globally in April, while NIO delivered 25,787 vehicles.

Apart from the top three, We Xiaoli also showed differentiation, with Xiaopeng Motors delivering less than 10,000 vehicles in April, and the gap gradually widening. Xiaomi's SU7, which was first delivered on April 3rd, completed deliveries of 7,058 vehicles in April.

"With the Beijing Auto Show at the end of the month, various manufacturers have begun to exert their efforts. Since mid-April, new brands and models have been successively launched, significantly increasing consumer attention to the automotive market. It is expected to stimulate the accelerated release of pent-up demand for car purchases. The national-level policy of trading in old cars for new ones is on the horizon, and the overall automotive market is poised for development." The China Automobile Dealers Association stated.

Xiaomi Cars aims to achieve annual sales of 100,000 units

At 8:31 am on May 1st, Xiaomi Cars officially announced the latest performance of the Xiaomi Cars SU7: Since the first delivery on April 3rd, 7,058 units have been delivered in April. As of 24:00 on April 30th, the locked-in orders for the Xiaomi SU7 have reached 88,063 units, with female car buyers accounting for 28%, BBA car owners accounting for 29%, and Apple users accounting for 52.5%.

Xiaomi Cars stated: "The Xiaomi SU7 is actively expanding production capacity, accelerating delivery, and ensuring the achievement of the goal of delivering 100,000 units this year."

With the release of the April performance report, Hongmeng Zhihang, Aiways, and Ideal Cars have all exceeded 100,000 units in cumulative sales this year.

In April, Hongmeng Zhihang delivered a total of 29,632 new cars, with the WENJIE M9 delivering 13,391 units, ranking first among luxury cars priced above 500,000 RMB; and the ZHIJIE S7 delivering 4,546 units. In addition, the Hongmeng Zhihang's executive luxury flagship sedan, the Xiangjie S9, made its official debut at the Beijing Auto Show. Yu Chengdong, Huawei's Executive Director, CEO of the Consumer Business Group, and Chairman of the Intelligent Automotive Solutions Business Unit, revealed that the Xiangjie S9, the first product of the collaboration between Huawei and BAIC, is a D-class car product that competes with international brands such as Mercedes-Benz, BMW, and Audi.

Guangzhou Aiways sold 28,113 vehicles globally in April, with global sales reaching 102,266 vehicles from January to April. At the Beijing Auto Show, the first global strategic model of Guangzhou Aiways, the second-generation AION V, made its debut, positioned as a pure electric SUV.

As for Ideal Cars, 25,787 new cars were delivered in April, a year-on-year increase of 0.4%, with a cumulative delivery of 106,187 units in 2024. In April, the Ideal L6 was launched, and as of April 30th, the cumulative orders for the Ideal L6 exceeded 20,000 units in 12 days. "The Ideal L6, released in April, is Ideal Cars' first product priced at less than 300,000 RMB, and mass deliveries will begin in May," Ideal Cars stated.

Polestar recorded a double increase in delivery volume in April, achieving 16,089 deliveries, a year-on-year increase of 99% and a month-on-month increase of 24%. At the previous Geely Auto performance conference, Polestar CEO An Conghui expressed confidence in achieving the sales target of 230,000 units for this year.

NIO and Lixiang Automotive both saw their delivery volumes exceed 10,000 vehicles in April. NIO delivered 15,620 new cars in April, a year-on-year increase of 134.6% and a month-on-month increase of 31.6%. Lixiang delivered 15,005 vehicles. At the Beijing Auto Show in April, Lixiang Automotive held a pre-sale launch event for the C16, a mid-to-large-sized SUV, with the top configuration of the C16 priced at no more than 200,000 yuan.

However, Xiaopeng Motors, Neta Auto, Avita, and Lantu Motors are still striving to achieve monthly deliveries of over 10,000 vehicles. In April, Xiaopeng Motors delivered 9,393 vehicles, a year-on-year increase of 33%; Neta Auto delivered 9,017 vehicles; Avita delivered 5,427 vehicles, a year-on-year increase of 226%; and Lantu Motors delivered 4,003 vehicles in April, a year-on-year increase of 20%. The cumulative deliveries from January to April reached 20,348 vehicles, a year-on-year increase of 126%.

Intensified Price War

In April, the price competition among new carmakers became more intense.

On April 1st alone, several brands including NIO, WM Motor, and Xiaopeng Motors announced a new round of promotional policies.

WM Motor launched a limited-time promotion in April, offering a 20,000 yuan discount on the rear-wheel-drive version of the new M7 Plus and a 10,000 yuan discount on the intelligent driving version.

Xiaopeng Motors stated that buyers of the 2024 Xiaopeng G9 will enjoy a subsidy for intelligent driving upon purchase, with a limited-time reduction of up to 20,000 yuan, starting from 243,900 yuan. In addition, they also introduced multiple discounts for optional equipment, including a limited-time 50% discount on the Starry Green and Starry Grey car colors, and an 20% discount on the intelligent dual-chamber air suspension.

On April 1st, NIO announced the launch of a subsidy of up to 1 billion yuan for the replacement of traditional cars. This subsidy policy applies to the 2024 NIO models and took effect immediately.

NIO officials stated that if traditional car owners choose to replace their cars with a new NIO, they will receive a total subsidy of up to 15,000 yuan for optional equipment, including an additional 10,000 yuan subsidy. In addition, car owners will also receive a 6,498 yuan NIO Phone voucher, approximately 3,600 yuan worth of battery swap vouchers (a total of 36 vouchers), and a one-year usage right for the Global Navigation Assistance (NOP+) worth 4,560 yuan.

On April 18th, Ideal Auto launched the Ideal L6, the first model priced at less than 300,000 yuan. On April 22nd, Ideal Auto announced price adjustments for several models, with the 2024 L-series models, except for the Ideal L6, reduced by 18,000 to 20,000 yuan, and the Ideal MEGA reduced by 30,000 yuan.

Li Xiang, Chairman of Ideal Auto, stated in late March that the simultaneous release of MEGA and the main sales force L-series led to a situation where the communication end and the front-line sales could not be taken care of at the same time, resulting in a neglect of one aspect, which in turn affected the overall performance of Ideal Auto.

In addition, Tesla, which has frequently adjusted prices this year, once again reduced its prices. On the day before Ideal Auto adjusted its prices, the prices of four Tesla models, Model 3/Y, and Model X/S, in the Chinese market were all reduced. The lowest domestic prices for the Model 3/Y models reached 231,900 yuan and 249,900 yuan, respectively, approaching historical lows.

The China Automobile Dealers Association stated that the price war in the car market intensified in April. In addition to the new energy companies that announced price cuts at the end of March, various traditional companies also introduced various forms of preferential policies, further intensifying terminal competition. According to research results, the terminal discount for mid-April passenger car market was -20.7%, slightly higher than the terminal discount intensity in March. The new energy market continued the trend from March, with the penetration rate of new energy in the first three weeks of this month remaining high. The retail sales of new energy vehicles this month are expected to reach around 720,000 vehicles, maintaining the same market size as last month, with a penetration rate of 45.0%.