Group 1: Market Overview - BYD experienced its first monthly decline in deliveries for the year, shipping 341,030 units in July, down from 377,628 in June, although this figure represents a 0.07% increase year-over-year [2] - Other major Chinese EV manufacturers, including Li Auto and Nio, also reported declines in July deliveries, while Xpeng achieved a record number of shipments [1][2] Group 2: Competitive Landscape - Li Auto's deliveries fell to 30,731 units in July, a decrease of 39.7% year-over-year, marking its second consecutive monthly decline [3] - Nio reported 21,017 units delivered in July, down from 24,925 in June, reflecting a 2.7% year-over-year decline across all product lines [3] Group 3: Price War and Policy Response - The decline in deliveries is attributed to a price war initiated by BYD, which discounted several lower-end models by around 30% in May, prompting other automakers to follow suit [2] - Chinese policymakers have issued warnings to halt excessive competition as the price war intensifies [2] Group 4: New Model Launches - Li Auto launched its first pure electric SUV, the Li i8, with prices ranging from 321,800 to 369,800 yuan ($44,700 to $51,400), scheduled for deliveries starting August 20 [4] - Nio introduced the L90 SUV, priced at 265,800 yuan or 179,800 yuan with a battery subscription, with deliveries for the six-seater starting August 1 and the seven-seater version expected in late September [4]
China's BYD breaks growth streak with July slump as EV price war reshapes competition