Shen Zhen Shang Bao·2025-09-02 04:02Core Insights - In August, the sales performance of new energy vehicles (NEVs) showed significant shifts among leading companies, with NIO surpassing Li Auto for the first time in 34 months, delivering 31,305 vehicles [2][3] - Li Auto's sales continued to decline, marking its second-lowest monthly delivery of the year at 28,500 vehicles, following a trend of decreasing deliveries over the past three months [4][5] - Xpeng Motors achieved a record high delivery of 37,700 vehicles in August, reflecting a year-on-year growth of 169% [3][5] Company Performance - NIO delivered 31,305 vehicles in August, a year-on-year increase of 55.2%, marking a historical high [3] - Li Auto's August deliveries were 28,500 vehicles, down from previous months, with a significant year-on-year decline of 39.74% in July [4] - Xpeng Motors' August deliveries reached 37,700 vehicles, with a month-on-month increase of 3% [3] - Leap Motor achieved a new high with 57,100 vehicles delivered in August, representing a year-on-year growth of over 88% [3] Financial Performance - Li Auto reported a revenue decline of 4.5% in Q2 2025, with total revenue of 30.246 billion RMB (approximately 4.222 billion USD) [5][6] - The company expects a sharp revenue drop of 40% in Q3 2025, projecting total revenue between 24.8 billion RMB (approximately 3.5 billion USD) and 26.2 billion RMB (approximately 3.7 billion USD) [6] - Li Auto's net profit for Q2 2025 was 1.101 billion RMB (approximately 153 million USD), nearly unchanged from the previous year [5][6] Market Outlook - The overall automotive market in China remained stable in August, with expectations for improved performance in September due to seasonal demand and promotional activities [7] - The China Automobile Dealers Association anticipates a better market performance in September, supported by government subsidies and consumer demand [7]