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After reporting on XPENG and NIO gross sales this previous week, I used to be interested by diving in just a little deeper and evaluating the 2
“good EV” automakers. The businesses are comparable in age and have seen comparable development developments for years, so I all the time discover it enjoyable and attention-grabbing to create mixed charts of those automakers and see what’s comparable or totally different. Let’s soar in.
Simply November gross sales (for 2024 versus 2023 and 2022), I’ve to confess I used to be stunned and struck by how steep XPENG’s gross sales grew from November 2022 to November 2023 to November 2024. That’s some critically speedy development. In distinction, I used to be additionally stunned NIO’s year-over-year-over-year development for November wasn’t stronger. Perhaps my notion is warped by simply how a lot XPENG’s gross sales grew, however I do assume I anticipated extra from NIO independently.
Now it will get much more attention-grabbing. Taking a look at gross sales from January–November for 2022, 2023, and 2024, the story goes within the different route. NIO had barely fewer gross sales than XPENG within the first 11 months of 2022, however then it grew rather more so in 2023 and once more grew rather more so in 2024. That exhibits how single-month comparisons may be deceiving.
After all, each automakers are seeing large development.
XPENG grew from 109,465 gross sales within the first 11 months of 2022 to 153,373 gross sales within the first 11 months of 2024. That’s stable development. NIO simply did significantly higher by rising from 106,671 gross sales to 190,832 gross sales.
Wanting solely on the month of November, XPENG grew from 5,811 gross sales in 2022 to 30,895 in 2024. That’s gorgeous development. XPENG’s November gross sales greater than quintupled in these two years. NIO, in the meantime, grew from 14,178 gross sales in 2022 to twenty,575 gross sales in 2024.
So, who has the higher development pattern and may be anticipated to do higher in 2025? It’s exhausting to say. Relying on the timeframe you utilize to look at the developments, both of them may win or lose — or possibly the extra acceptable factor to say can be “win huge versus win little.” Tell us what you consider the 2 firms within the feedback under.
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