Intel stock extends gains after report of possible U.S. government stake
New data shows electric vehicles (EVs) outpaced internal combustion engine vehicles (ICEVs) in China, with EV penetration recovering to 45% during the week, according to Morgan Stanley. Local brands dominated the market, with BYD (SZ:002594) maintaining its position as the distant leader.
BYD's weekly sales climbed to a year-to-date high of 68,500 units, marking a 30% increase from the previous week, propelled by the strong performance of the Honor model's facelift.
Li Auto (NASDAQ:LI) also saw its sales jump by 50% week-over-week to approximately 8,000 units, largely driven by the ramp-up of its L6 model, which contributed 2,800 units.
NIO experienced a 23% week-over-week improvement in its weekly sales rate, reaching 4,400 units, thanks to effective sales promotions.
In contrast, Tesla (NASDAQ:TSLA) China faced a 11% week-over-week decline, with sales dropping to 9,800 units. XPeng's sales remained relatively stagnant at the 2,300 unit level.
AITO's sales surpassed the 6,000 unit mark. Xiaomi (OTC:XIACF), on the other hand, sold only 1,100 units, which was likely impacted by supply bottlenecks.