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China EV Price War Fears Intensify After Xpeng (-5.2% MoM) & Li Auto (-1.4% MoM) Report Weak July Sales
Concerns over a potential price war in China's electric vehicle (EV) market have intensified after premium carmakers Xpeng, Nio, and Li Auto reported weak July sales figures. Xpeng delivered 38,027 vehicles, down 5.2% month-on-month, while Li Auto's deliveries fell 1.4% from June to 30,468, marking its fourth consecutive month of decline. Nio also reported a month-on-month sales decrease. The softening demand for intelligent cars is attributed to an economic slowdown in mainland China.
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