Core Insights - July saw a moderate growth in the new energy vehicle (NEV) market despite being a traditional off-peak season for passenger car sales, with delivery volume growth slowing down year-on-year [2][3] - The overall delivery volume of NEVs in July showed a year-on-year increase of 11.2% but a month-on-month decrease of 6.2% among 11 car manufacturers [2][3] - The upcoming months are expected to see improved sales as multiple new models are set to launch, coinciding with the traditional peak sales season in September and October [6] Company Summaries - BYD: In July, BYD sold 341,030 passenger vehicles, a slight year-on-year increase but a month-on-month decrease of 9.7%. Exports reached 80,178 units, a significant year-on-year increase of 159.5% [2][3] - Xiaomi Auto: Achieved over 30,000 deliveries in July, marking a new monthly delivery record [2] - Horizon Smart Mobility: Delivered 47,752 units in July, an 8.3% increase year-on-year, but a 9.5% decrease month-on-month [3] - Xpeng Motors: Delivered 36,717 units in July, with year-on-year and month-on-month growth of 229.4% and 6.1%, respectively, setting a new monthly delivery record [3] - Li Auto: Delivered 30,731 units in July, with year-on-year and month-on-month declines of 39.7% and 15.3% [3] - NIO: Delivered 21,017 units in July, with a year-on-year increase of 2.5% but a month-on-month decrease of 15.7% [4] - Leap Motor: Achieved 50,129 deliveries in July, marking a year-on-year increase of 127% and a month-on-month increase of 4% [4] - Avita: Delivered 10,062 units in July, with a year-on-year increase of 177.6% but a slight month-on-month decrease of 0.9% [5] Market Outlook - The market is expected to improve in August as several new models are set to launch, including Li Auto's i6 and new versions of Xpeng's P7 and Horizon's R7 and S7 [6] - The industry remains optimistic about BYD's smart driving and export capabilities, as well as Xpeng's new model launches contributing to sales and profit margin improvements [6]