New forces in car manufacturing, delivery volume in February gradually increased: XPENG-W (09868) increased by over 570% year-on-year and reclaimed the top spot. LI AUTO-W (02015) pure electric models made their debut.

With the gradual implementation of the "old-for-new" policy in some regions, the automotive market has slowly heated up after entering February. On March 1st, the new forces in car-making, XPENG-W (09868), LI AUTO-W (02015), LEAPMOTOR (09863), and NIO-SW (09866) successively disclosed their delivery situations in February. Among them, Xiaopeng Motors continued to maintain good growth momentum, with a monthly delivery volume once again exceeding 30,000 vehicles, while Ideal saw a decline compared to the previous month, and Zerun hovered around 25,000 vehicles. NIO's performance in February remained sluggish, with both of its major brands delivering less than 10,000 vehicles. Xiaopeng Motors delivered 30,453 new vehicles in February, a year-on-year increase of 570.03%, continuously rising, and has exceeded 30,000 vehicles for four consecutive months. As Xiaopeng Motors' two best-selling products, the Xiaopeng MONA M03 has delivered over 10,000 vehicles for six consecutive months since its launch, and the Xiaopeng P7+ has delivered over 30,000 vehicles in three months since its launch. The day before, the 2025 model Xiaopeng G6 made its debut, with up to 81 new experience upgrades, featuring the Turing AI driving system as standard across the range, and all models equipped with 5C supercharged AI batteries, which are expected to further expand Xiaopeng's market share. In the overseas market, the first right-hand drive model Xiaopeng G6 officially started pre-sales in the UK, and the first batch of 300 Xiaopeng X9 vehicles was officially shipped overseas. "The Xiaopeng X9 is confident that it will become the best-selling high-end electric MPV in Asia-Pacific by 2025," said Xiaopeng Motors Chairman He Xiaopeng. According to the plan, Xiaopeng Motors will cover 60 countries and regions by 2025 and establish over 300 overseas service outlets. Ideal Motors, ranking second, delivered 26,263 new vehicles in February, a year-on-year increase of 29.69%. Starting from June last year, it has delivered over 40,000 vehicles for seven consecutive months, and in the first two months of this year, the delivery volume has been maintained below 30,000 vehicles, indicating a significant lack of momentum in Ideal's market performance, which underscores the urgent need for the launch of pure electric products. On February 25th, Ideal Motors released the official image of its first pure electric SUV, the Ideal i8. It is reported that the i series is Ideal Motors' new series of pure electric SUVs, which together with the L series and MEGA form a matrix of models. "After the release of the appearance of the first pure electric SUV, the Ideal i8, the feedback from users and the market has strengthened our confidence in the development of the series of pure electric products," said Ideal Motors Chairman Li Xiang. Following closely behind, LEAPMOTOR delivered 25,287 vehicles in February, a year-on-year increase of 285.12%. Like the above two companies, Zerun is also speeding up its new product layout to seize more market share. On February 21st, Zerun's new T03 was officially launched, positioned as a five-door pure electric vehicle, with two versions priced at 59,900 yuan and 69,900 yuan respectively. In addition, Zerun B10 will also start pre-sale on March 10th. NIO delivered 13,192 new vehicles in February, a year-on-year increase of 62.22%. Among them, NIO brand delivered 9,143 new vehicles, a year-on-year increase of 12.4%; Leda brand delivered 4,049 new vehicles. "This year is a big year for NIO technology. Starting from March, we will continue to deliver the full version of the Tian Shu SkyOS operating system, Shen Ji chip, and the end-to-end urban intelligent driving of the world model," said NIO's Chairman Li Bin at a live event in early February. "This year is also a big year for NIO's products. Starting from April to the end of the year, we will have new products from three brands, NIO, Leda, and Firefly, all launching intensively, with heavyweight new products being released every quarter." Market observers believe that on the one hand, NIO's "5 years 0 interest" financial plan launched earlier will continue in March, and orders are expected to pick up; on the other hand, starting from March 1st, the national standard "Regulations for the Inspection of the Operating Safety Performance of New Energy Vehicles" will be officially implemented, with the safety charging inspection and electrical safety inspection of new energy vehicle batteries becoming mandatory. This to some extent reinforces NIO's advantage in swap-type electric vehicles.