The automotive industry has seen varied sales performances in January 2024. Chinese New Energy Vehicle (NEV) sales, primarily electric vehicles (EVs), surged by 92% year-on-year, reaching nearly 600,000 units. NIO delivered 10,055 EVs, Xpeng delivered 8,250 vehicles, and Li Auto delivered 31,165 vehicles, with Li Auto's stock surging up to nearly 9%. In contrast, US auto sales decreased to 15 million Seasonally Adjusted Annual Rate (SAAR) in January, down 1% year-over-year and 5.2% from December, with overall US car sales at 3.01 million. Used car prices in the US continued their decline for the eighth consecutive month, now at their lowest levels since June 2021, marking a 13% drop from the peak in July 2022, with wholesale used car prices down 1.0% from the previous month and 10.2% from January 2023. In China, 25% of new car sales were 100% electric in 2023. The BYD Group reported a 33.9% increase in global sales at 201,493 units in January, with the Denza brand showing solid gains and Fangchengbao and Yangwang sales trending upwards. BYD also made a significant move in Europe by signing a pre-purchase land agreement with the Szeged City Government in Hungary for a passenger car factory. Meanwhile, US-based Ford's sales in January indicate that while EV growth has stalled, hybrid vehicle sales have surged.
Here's why US EV, hybrid sales rose year-over-year in 2023 https://t.co/wjx69SU4bi by @michelle0728
U.S. auto sales softened in January https://t.co/FaMxodjF42
NEWS: Tesla China wholesale figures listed at 71,447 units in December 2023: CPCA https://t.co/KC83OROwq9
Ford's EV sales slip in January as Mustang Mach-E deliveries fall 50% https://t.co/Xup5VBFcka by @EVPeteJohnson
#China’s New Energy Vehicle Sales Are Softening in Early 2024 Shipments to dealers dropped 37% in January from December: PCA Automakers including BYD and Tesla have rolled out price cuts #oott https://t.co/dEuUA8zHuQ
Ford's hybrid vehicle sales surge to offset EV decline in January https://t.co/Wzoe2SmCsI
Ford sales jump in January, topping Toyota's, but EV growth stalls https://t.co/qFSfXXWCwK by @Pras_S
Ford Sales Show EVs Are Struggling While Hybrids Thrive https://t.co/edq0VQIICA
🇺🇸 United States All Car Sales (Jan) $USD Actual: 3.01M Previous: 3.08M
Wards vehicle sales softer in January at 15 million vs. 15.7 million est. & 15.83 million in prior month … lowest since March 2023 but still relatively healthy compared to past couple years @WardsAuto https://t.co/sUeLztgIHL
Chinese EV sales drop in Jan amid decreased demand https://t.co/fQrch9P5sY
US Auto Vehicles Sales Decrease to 15 million SAAR in January, Down 1% YoY and Down 5.2% from December - Wards Intelligence $LAD $ABG $AN $CVNA $KMX $PAG $SAH $GPI $ORLY $AZO https://t.co/ECusgoaYk8
#Chinese #EV makers stage rally on strong deliveries in Jan, led by Li Auto surging up to nearly 9%. https://t.co/haGgRmRP6L https://t.co/fqU0XTEIZz
Wholesale used car prices continued to fall in January 2024. - 1.0% vs prior month - 10.2% vs Jan 2023 https://t.co/6685zwKimf
BYD signed a land pre-purchase agreement with the Szeged City Government in #Hungary on January 30, for a @BYDGlobal passenger car factory, marking a substantial breakthrough in BYD's localization process in Europe. #ElectricVehicle #byd https://t.co/8u8SCIrVhi
The BYD Group's global sales increased by 33.9% in January 2024 compared to a year earlier at 201,493 units. Solid gain for the rejuvenated Denza brand. Fangchengbao and Yangwang sales continued their upward trend. @BYDCompany @BYDGlobal @BYD_Europe https://t.co/iP9lY2cM2v
25% of New Car Sales in China Were 100% Electric in 2023! https://t.co/bRkRbzQJZj
Used Car prices in the US declined in January for the 8th month in a row. Now at their lowest levels since June 2021, down 13% from the peak in July 2022. https://t.co/V3e0rSmjti
$NIO delivered 10,055 EV's in Jan, $XPEV 8,250 and $LI 31,165 vehicles. $TSLA $RIVN
Those latest "EV sales are stalling" numbers in full… Caijing reports Chinese "NEV" (mostly EV) sales jumped 92% year-on-year in January, reaching nearly 600k (Side note: Remember how the US was celebrating 1m EV sales in the first 10 months of 2023?) https://t.co/BnfVKRkVHb