Chinese EV Demand Sets Record. December Should Be Huge
2 min
Monthly electric vehicle deliveries at NIO , XPeng , and Li Auto set a record in November. Things are looking even better for December.
EV demand isn’t an issue in China. Pricing, however, continues to be a struggle.
Sunday, NIO reported 20,575 deliveries for November, up about 29% from a year ago. Based on recent guidance, given with third-quarter earnings , NIO expects to deliver about 32,000 cars in December, a record, and up about 77% from a year ago.
Li reported 48,740 deliveries for November, up about 19% from a year ago. Based on recent guidance from Li’s third-quarter earnings , the company should deliver about 65,000 cars in December, up 29% from a year ago.
XPeng delivered 30,895 vehicles in November, up about 54% from a year ago. The midpoint of its fourth-quarter guidance, given on its third-quarter earnings report, was 89,000 cars, implying December deliveries of about 34,000 units.
December’s implied numbers would be a record for all three auto makers. EV demand in China is still solid. The bigger problem is competition. Citi analyst Jeff Chung recently wrote that the Chinese car market is still concerned about a “potential price war in 2025.”
He projects 2024 all-electric vehicle sales of 7.8 million units, up about 28% from 2023. Sales in 2025 should be up another 17% to 9.1 million cars. The problem: The industry has the capacity to make 28 million all-electric cars annually, according to Chung’s calculations. Capacity utilization that low typically isn’t great for profit margins.
At least there is demand. Combined, the three Chinese EV makers sold 100,210 vehicles in November. That’s a monthly record. December guidance implies about 131,000 cars sold, another record.
Coming into Monday trading, NIO stock was down about 51% this year while the S&P 500 was up about 26%. XPeng and Li shares were down 17% and 37%, respectively.
From elevated skincare to handcrafted home pieces, this year’s most thoughtful gifts go beyond the expected.
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From elevated skincare to handcrafted home pieces, this year’s most thoughtful gifts go beyond the expected.
3 min
Mother’s Day has quietly evolved. It’s no longer about last-minute flowers or safe department store buys. Instead, there’s a noticeable shift towards gifts that feel considered, personal and, increasingly, lasting.
This year’s edit leans into that idea, bringing together pieces that balance design, purpose and a sense of story.
At the more elevated end of beauty, Australian-founded skincare label Bon Elliot offers a future-facing approach grounded in dermatology.
Its Hydrating Performance Serum, priced at $220, is designed to support the skin’s natural balance, working across the microbiome, barrier and repair response for a more refined, luminous finish.
It’s the kind of gift that feels indulgent, but also quietly practical.
For something less expected, there’s a playful turn in the form of Tinned Candle’s handcrafted pieces.
Inspired by tinned fish, the Atlanta-based studio has created candles that are as much design objects as they are functional.
Importantly, they smell nothing like sardines, leaning instead into ocean breeze or champagne notes, depending on the piece . It’s a small, clever way to bring personality into a space.
There’s also a growing appetite for gifts that give something back.
Coral adoption programs offer a more meaningful alternative, allowing you to adopt a coral in your mother’s name while supporting fragile marine ecosystems under threat from climate change.
It’s less about the object and more about the gesture, which, in many ways, feels more aligned with the moment.
Homewares continue to hold their place, particularly when craftsmanship is at the centre.
Tanora’s collection, handcrafted in Madagascar, blends traditional techniques with a modern coastal aesthetic, spanning everything from woven totes to placemats and cushions.
These are pieces that don’t just decorate a home, they add texture and narrative to it.
For something more personal, Australian lingerie label Cloud Blvd offers soft, wearable luxury in the form of robes and camisoles.
With options designed for comfort as much as elegance, they strike that rare balance between everyday use and quiet indulgence.
And for the mother who loves to host, Mesa Collections delivers a playful yet polished take on the table.
Think colourful linens, sculptural silverware and small details that turn a simple meal into something more considered.
What ties all of this together is a shift in mindset.
The best gifts this Mother’s Day aren’t necessarily the most expensive or the most obvious. They’re the ones that show thought, whether that’s through design, craftsmanship or meaning.
Which, if you think about it, is exactly the point.
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