November Brought Record EV Sales And Deliveries

On Monday, China Passenger Car Association (CPCA) released November sales and delivery figures. While Tesla Inc TSLA China-made EVs tanked as much as 17.8% YoY, its biggest rival BYD Company Limited BYDDY set another record in passenger vehicle deliveries. Another China rival, XPeng Inc XPEV reported its sales rose as much as 245% in November. In the U.S., Ford Motor F also posted its November figures on Monday, with its EV sales rising 43.2% YoY.

Tesla Reported Its China Sales Contracted In November, But It Remains On Track To Meet Its Annual Goal

Although made-in-China Model 3 and Model Y deliveries grew 14.3% from October, Tesla reported overall China sales tanked almost 18% YoY as it started delivering the revamped version of its Model 3. But Tesla is targeting a record fourth quarter as it aims to meet its 2023 goal of delivering 1.8 million vehicles. Tesla reaffirmed this goal during its latest earnings report. Considering the figures from the first three quarters of 2023, Tesla needs to deliver about 476,000 in the final quarter to make its goal, which is 2% higher than its previous record in the second quarter as well as an improvement from the third quarter’ 435,059 vehicles. 

BYD Set Another Record

BYD delivered 301,378 vehicles in November. The record figure comprises of Dynasty and Ocean series of EVs along with petrol-electric hybrid models, rising 0.09% from October and 31% YoY. But despite record global EV sales, BYD growth has flattened as the automaker is making significant efforts to dethrone Tesla with its affordable EVs.

Despite Its Ups And Downs, XPeng Is Accelerating

XPeng delivered 20,041 “smart” EVs in November, which translates to a YoY growth of 245%. What’s even more impressive is that every month over the past 10 months, XPeng has been increasing sales month-over-month. This is also the second month XPeng reported sales beyond 20,000 units.

Ford Set A Record In EV Sales

Although Ford experienced a 0.5% drop in new vehicle sales in the U.S. during November, it made a record in terms of EV sales. In November, Ford sold a total of 145,559 vehicles, out of which it sold 8,958 EVs, including the electric F-150, the Lightning and Mustang Mach E. Considering that the UAW strike costed Ford $1.7 billion and that October sales also dropped 5.3%%, optimistic EV figures for November provided some much-needed good news and shares rose 1.4% during afternoon trading on Monday in response.

All in all, November brought quite a few records on the EV front, but not by the EV king itself, Tesla Inc.

DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.