NIO & XPeng Sales Increase 30% & 20% In October – CleanTechnica

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

---

It’s the first of the month, and we’ve got positive EV sales news from NIO and XPeng yet again. Both Chinese EV automakers saw strong sales increases in October 2024 compared to October 2023.

NIO Sales

NIO scored 20,976 sales (i.e., deliveries) in October, an increase of 30.5% over October 2023, but a slight decrease month over month (the company had 21,181 deliveries in September 2024).

Year to date, NIO has landed 170,257 sales this year. That’s an even bigger increase, 35.1%, year over year.

Notably, we’re now talking about sales from two different brands, as NIO has rolled out the ONVO brand now. NIO had 16,657 of the month’s sales, while ONVO had 4,319 sales. ONVO, as the company itself describes it, is NIO’s “family-oriented smart electric vehicle brand.” Here’s more on recent ONVO progress: “In October 2024, the production and delivery of the ONVO L60 have been steadily ramping up. As of October 31, 2024, ONVO operated 166 ONVO Centers and ONVO Spaces across 60 cities, while also providing users with seamless access to 584 NIO Power Swap Stations in China. ONVO will continue to expand its sales, service and power networks to serve a growing user base and drive long-term growth.”

Is ONVO a concession that NIO can’t grow enough with its original brand? Perhaps, but does it matter? If you can grow faster by creating more brands focused on different niches in the market, why not do that?

Cumulatively, NIO has sold 619,851 vehicles. If you extrapolate October sales, NIO is at an annual sales rate of 251,712. That’s more than Tesla’s 2018 total (244,920 sales) — and recall that 2018 was the year that Tesla got Model 3 mass production rolling (in the second half of the year, which is also when Tesla started making a quarterly profit).

XPeng Sale

On to XPeng, the somewhat younger smart electric vehicle company had a few thousand more sales in October. XPeng scored 23,917 sales in October, which was a 20% increase year over year. Furthermore, it was a 12% increase month over month. Extrapolating to a full year, 23,917 sales a month would translate to 287,004 sales a year.

The hot, affordable, new-ish XPeng MONA M03 is carrying the company now, scoring more than 10,000 deliveries for the second month in a row.

In the first 10 months of the year, XPeng got 122,478 sales. That’s an increase of 21% year over year.

One thing I’ve learned over the years is XPeng is always eager to emphasize its tech leadership. On that topic, the company had the following to share: “In October, XNGP‘s monthly active user penetration rate in urban driving reached 86%. At the XPENG Tech Workshop on October 24, 2024, the Company demoed its AI-powered ADAS technology on XPENG P7+ and unveiled its AI Tianji XOS 5.4.0. The Company also announced that the XPENG P7+ will be equipped with end-to-end AI-driven ADAS technology as a standard configuration.

“XPENG has become the only Chinese automaker to deliver industry-leading urban ADAS that does not rely on HD maps or LiDARs, providing the most competitive cost in China and accelerating the mass adoption of autonomous driving.”

The company also noted that it entered the UAE market last month (a story we somehow missed, even though we did notice that NIO moved into the UAE in August). XPeng is now selling its smart electric vehicles in five Middle East and North Africa (MENA) markets — the UAE, Israel, Egypt, Jordan, and Lebanon.