EV sales blaze hot for BYD, Li Auto, XPeng, ZEEKR, and NIO

Demand for electric vehicles in China appears to be strong based on the latest round of sales and deliveries reports out of the region.

BYD Company sold a record number of vehicles for the month of October, with a tally of 500,526 units. That mark also beat the highest monthly deliveries total ever recorded by Tesla (NASDAQ:TSLA). Rival Geely Automobile (OTCPK:GELYF) also set a record with 226,686 vehicles sold in October, which was up 28% from a year ago. EV upstart XPeng (NYSE:XPEV) delivered 23,917 smart EVs in October, which was a record for monthly deliveries and represented growth of 20% year-over-year and was up 12% from September.

NIO (NYSE:NIO) reported October deliveries increased by 30.5% year-over-year. That mark was down roughly 1% from 21,181 vehicles shipped in September. Li Auto (NASDAQ:LI) reported October deliveries were 27.3% higher year-over-year to 53,709 units. The electric vehicle maker achieved a significant milestone with over one million cumulative deliveries, becoming the first Chinese premium automotive brand to reach this landmark.

Meanwhile, ZEEKR Intelligent Technology (ZK) saw stunning 92% year-over-year growth, with deliveries of 25,049 vehicles in October.

Earlier in the week, Xiaomi (OTCPK:XIACF) said it has delivered more than 20,000 units of the SU7 in October. The Chinese tech company also reiterated that it will meet its full-year delivery target of 100,000 units in November, ahead of schedule.

While the sales and deliveries numbers from Chinese electric vehicle makers continue to move steadily higher, investors have had their eyes on the stiff price competition and impact on margins for the dominant players in the industry. There has also been concerns about trade and tariff battles holding back global growth aspirations.