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Who’s profitable within the younger Chinese language sensible EV startup competitors? It’s sophisticated. The humorous factor is how related NIO’s and XPeng’s development charts look. After all, there are clear variations too, however general, their gross sales charts over the previous 4 years seem like shut cousins.
Beginning with the yearly view, NIO began a bit forward of XPeng in 2020, then fell a little bit bit behind in 2021, then rose barely above XPeng once more in 2022, after which had a notably sturdy 12 months in 2023. Even in 2023, although, NIO was simply 13% above XPeng. However the yearly view additionally hides some issues.
Wanting on the quarterly gross sales charts for the 2 corporations, we are able to see that XPeng shot nicely above NIO within the 4th quarter. NIO had a transparent document third quarter — way more gross sales than both firm had ever scored in a single quarter — however then XPeng adopted up its second finest quarter ever with a brand new document nicely above NIO’s. After the dips in Q1 and Q2, although, one has to surprise what’s coming in Q1 and Q2 of 2024. Will the sturdy gross sales tendencies proceed? Or will there be one other notable drop-off to begin the 12 months?
Additionally, will each corporations observe related tendencies once more? Or will they break up off and go their very own methods?
Wanting on the gross sales charts on the month-to-month degree doesn’t essentially change the story, but it surely does add some nuance, displaying that XPeng had three stable gross sales months in a row at about the identical degree on the finish of 2023, much like what NIO achieved within the first two months of Q3 2023. Generally, although, each corporations had a really good rise in gross sales within the second half of 2023. Any predictions on what 2024 and 2025 will deliver? (And when you’re actually daring, take us into 2030 together with your forecasts!)
Interactive variations of the charts above could be seen and toyed with right here:
You may as well view interactive variations of XPeng gross sales and NIO gross sales on their very own right here:
All photographs by CleanTechnica
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