Nio and XPeng Excel in October Deliveries; Li Auto Faces Challenges
Chinese electric vehicle (EV) manufacturers Nio and XPeng have reported impressive delivery figures for October 2025, while Li Auto is experiencing ongoing challenges in the competitive market.
Nio and XPeng Excel in October Deliveries
Nio achieved a significant milestone in October, delivering 40,397 vehicles. This figure represents a remarkable year-over-year growth of 92.6% and a 16.3% increase from September’s numbers. For the first time, Nio exceeded the 40,000 units mark in monthly deliveries.
Breaking down the deliveries, Nio’s breakdown included:
- 17,143 vehicles from its main brand, Nio.
- 17,342 vehicles from its Onvo sub-brand.
- 5,912 vehicles from the Firefly sub-brand.
Notably, Nio’s Onvo L90, a smart large-space flagship SUV, has excelled, maintaining over 10,000 monthly deliveries for three consecutive months since its launch in July 2025. Additionally, the demand for Nio’s newly launched third-generation ES8 continues to be strong.
XPeng also reported encouraging results, with October deliveries reaching 42,013 units. This figure reflects a year-over-year increase of 76%, though it marked only a 1% rise from September. The company has been actively pursuing global expansion, entering seven new markets in October, which include:
- Lithuania
- Latvia
- Estonia
- Cambodia
- Morocco
- Tunisia
- Qatar
XPeng’s stock has surged by 99% year-to-date, showcasing strong performance amidst intense competition. Nio’s stock has also seen significant growth, increasing by 66.3% over the same period. Investors are particularly keen on the upcoming XPENG AI Day on November 5, where the company plans to unveil advancements in its AI technology.
Li Auto Faces Ongoing Challenges
In contrast, Li Auto faced a 38.3% decline in deliveries for October, totaling 31,767 units. This decline marks the fifth consecutive month of decreasing sales for the company. Li Auto also reported a 6.4% drop compared to September.
The struggles stem primarily from weak demand for the L-series extended-range electric vehicles (EREVs). In response, Li Auto relaunched its Li i8 SUV at a reduced price following a lackluster initial response. Further, the company introduced its second pure-electric SUV, the Li i6, on September 26, which has garnered over 70,000 orders since its launch.
Market Ratings for Nio, XPeng, and Li Auto
According to market analysts from TipRanks, there are positive sentiments surrounding Nio and XPeng, both receiving a Moderate Buy consensus rating. Conversely, Li Auto is rated as a Hold. Analysts suggest potential downside risks for Nio while seeing continued upside for XPeng.
