Zheng Quan Ri Bao Zhi Sheng·2025-06-03 16:40Core Insights - The new energy vehicle market is experiencing a significant reshuffle, with companies like XPeng Motors and Leap Motor leading in sales growth, while Li Auto maintains profitability and NIO seeks to balance high-end positioning with scale [1][2][3] Group 1: Sales Performance - XPeng Motors achieved a delivery volume of 94,000 units, a year-on-year increase of 331%, driven by the popularity of models MONA M03 and P7+ [2] - Li Auto delivered 92,900 units, marking a 15.5% year-on-year growth, with its L series becoming the first range-extended product line to surpass one million cumulative deliveries [2] - Leap Motor delivered 87,600 units, a 162% increase year-on-year, with a significant portion of sales coming from its C series models [2] - NIO delivered 42,100 units, a 40.1% increase year-on-year, but faces challenges in maintaining strong support from its sub-brand [2] Group 2: Financial Performance - Li Auto reported a net profit of 647 million yuan, achieving profitability for ten consecutive quarters, with a revenue of 25.9 billion yuan, a 9.4% increase year-on-year [4] - XPeng Motors' revenue reached 15.81 billion yuan, a 141.5% year-on-year increase, with a historical high gross margin of 15.6% [4] - Zeekr's total revenue was 22 billion yuan, with a vehicle sales revenue of 19.1 billion yuan, reflecting a 16.1% year-on-year growth [5] - Leap Motor's revenue surpassed 10 billion yuan for the first time, reaching 10.02 billion yuan, a 187.1% increase year-on-year, with a gross margin of 14.9% [5] Group 3: Strategic Developments - The competitive landscape is shifting from "NIO, XPeng, Li" to "XPeng, Li, Leap," with a new benchmark of 30,000 monthly sales [3] - Companies are focusing on improving gross margins, reducing costs, and expanding globally as part of their profitability strategies [4] - Li Auto is investing 2.5 billion yuan in R&D, focusing on AI technologies, while XPeng aims for a doubling of sales and positive cash flow by Q4 [4]