Decoding the December 2024 EV Market Dynamics
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Record-Breaking Month for BYD and Tesla’s Resurgence
The final month of 2024 brought remarkable achievements within the electric vehicle (EV) sector, particularly for BYD, which recorded an impressive 483,000 registrations, effectively outpacing Tesla by a significant margin. The American automaker tallied 201,000 deliveries, marking its highest performance in a year and a half.
The Rising Stars: Wuling and Li Auto
Cementing third place was Wuling with a record-breaking 88,435 registrations, primarily driven by the Mini EV and Bingo models. Li Auto also celebrated exceptional success at fifth position with over 58,000 units sold, largely attributable to its popular L6 midsize SUV.
BMW Stands Out Among Legacy Automakers
BWM rounded off December positively as well, boasting year-best results fueled by sales from high-demand models like the iX1 (8,618 units), i4 (6,625), and X5 PHEV (5,304). Notably, it was one of the few legacy brands nearing record figures amidst a sea of new Chinese players achieving various milestones during this month.
A Closer Look at Emerging Brands: Leap Motor and Deepal
Apart from Wuling and Li Auto’s success stories in December (#3 & #5 respectively), Leap Motor demonstrated continual growth with over 42,000 units delivered. Furthermore,Changan’s Deepal brand #11 made waves by selling over36,577 vehicles , thanks to its S05 compact crossover hitting nearly 12K sales that month.
Xiaomi Approaches Dominance Rapidly
Xiaomi has emerged as an intriguing player within this landscape—their SU7 sedan has ignited significant interest in their brand ranking journey.This makes them soon-to-be-record breaking contenders! The company anticipates exceeding 300K units sold in 2025; strong>*extensive growth projections suggest numbers might hit as high as *600K in 2026*!
This swift rise signals potential profitability on Xiaomi’s horizon; achieving such momentum from inception is noteworthy!
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