Chinese EV Makers Show Diverging Performance in October 2025 Deliveries
Nio and XPeng extended their growth trajectories in October 2025, with Nio delivering a record 40,397 vehicles—a 92.6% year-over-year surge—driven by strong demand for its Onvo and Firefly sub-brands. XPeng followed closely with 42,013 deliveries, up 76% annually, though sequential growth slowed to 1% as the company prioritized global expansion into seven new markets.
Li Auto, however, saw deliveries plummet 38.3% year-over-year to 31,767 units, marking a continued decline. BYD maintained its volume leadership despite intensifying competition, though specific figures were not disclosed in the report.
Investors have rewarded XPeng’s execution, with its stock nearly doubling year-to-date. The contrasting performances highlight the volatility in China’s EV sector as automakers balance domestic saturation against overseas ambitions.
