Nio and Xpeng Set Delivery Records as EV Prices Drop

China's electric vehicle market saw a sharp rebound in August as several carmakers posted record monthly deliveries on the back of competitively priced new models.

Nio (NIO, Financials) delivered 31,305 units, a new high, driven largely by its sub-brand Onvo, which alone accounted for 16,434 vehicles. The company's new six-seater SUV L90 launched August 1, with a seven-seater model expected by late September.

Xpeng also hit a record, delivering 37,709 vehicles in August, boosted by strong sales of its new low-priced P7 model, which started at 219,800 yuan (~$30,800) and began shipping on August 28.

Leapmotor led in growth rate, delivering 57,066 unitsan 88% year-over-year surgethanks to momentum from its new B01 model and a popular color update for the B10.

Meanwhile, BYD maintained its dominance with 371,501 units sold in August, up 22% from a year ago. Xiaomi reported maintaining delivery volumes above 30,000, continuing momentum from July's YU7 SUV launch.

Li Auto, however, posted its third straight monthly drop with 28,529 deliveries, down from 30,731 in July. A controversial crash test video involving its Li i8 model drew criticism, and though the company apologized, the backlash may have dampened consumer trust.

Huawei-backed Harmony Intelligent Mobility Allianceincluding brands like Aito and Cheryalso declined to 44,579 units, down from July's 47,752.

While the price war has helped move units, August's performance suggests branding, trust, and timing still heavily influence buyer behavior in the EV space.