Price war fears grip China’s EV market after woeful July sales figures

Three premium Chinese electric car makers saw sales decline in July, intensifying concerns that the industry is heading for another discount war

EV makers Xpeng, Nio and Li Auto all reported month-on-month sales declines last month, as demand for intelligent cars weakened amid an economic slowdown in mainland China.

Li Auto, meanwhile, logged its fourth consecutive month of declining sales, as deliveries fell 1.4 per cent from June to 30,468.

Other major Chinese EV players managed to eke out sales upticks in month-on-month terms, but their deliveries were still far lower than during the same period last year.