BYD Hits Record as Xpeng Surges and Nio, Li Auto Slide in October

Key points

• BYD sold 490,168 new energy vehicles in October, up 10.97% year-on-year, with battery electric sales exceeding 300,000 for the first time.
• Xpeng delivered 50,237 vehicles, a 20% year-on-year increase, driven by a record 13,326 overseas units and the launch of the L05 model.
• Nio deliveries fell 15.23% year-on-year to 34,246 units, ending a 31-month growth streak, while Li Auto dropped 8.63% to 29,025 units.
• Leapmotor set a new record with 106,127 deliveries, continuing a four-month streak above 100,000 units, though growth rates slowed slightly from September.
• Huawei’s HIMA alliance saw deliveries drop 50.84% year-on-year to 33,537 units, pushing its cumulative 2026 growth into negative territory.

Background

Chinese automakers have been aggressively expanding into European markets to offset domestic saturation, a strategy highlighted by recent EU import curbs and Ford CEO Jim Farley’s warnings about market saturation. This global push coincides with domestic volatility, where some brands face declining sales despite strong export numbers.

How outlets are covering it

CnEVPost provides a comprehensive ranking, highlighting BYD’s dominance and the struggles of Nio and Li Auto. Yahoo Finance focuses exclusively on Xpeng, emphasizing its record overseas deliveries and the launch of its Level 4 Robotaxi service in Guangzhou, which CnEVPost notes as a key driver for Xpeng’s growth but does not detail in depth.

Why it matters

The widening gap between top-tier exporters like BYD and Xpeng and struggling premium brands like Nio and Li Auto signals a shift in the Chinese EV market. Success now hinges on global expansion and new model launches, as domestic demand softens for several major players.

What to watch

Li Auto aims to increase production of its new i6 model to 20,000 units in November, while Xpeng targets 60,000 monthly sales in Q4. Leapmotor must average 113,667 deliveries per month in the final two months to meet its 1,000,000 annual target.