Chinese EV Demand Sets Record. December Should Be Huge

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.

Rolls-Royce has unveiled the Phantom Centenary Private Collection, a landmark series of just 25 motor cars honouring the 100th anniversary of its most storied model.

Described as the marque’s most complex and technologically ambitious creation to date, the Centenary Collection is a statement of craftsmanship, symbolism and legacy, three years in the making.

Each Phantom Centenary tells the story of the nameplate’s century-long reign as the pinnacle of luxury motoring.

Every surface, from its embroidered headliner to its gold-detailed engine cover, reflects an element of Rolls-Royce’s history.

The Bespoke Collective of designers and artisans distilled the Phantom’s heritage into 77 motifs that appear throughout the car, created using groundbreaking techniques such as 3D marquetry, ink layering, laser-etched leather and 24-carat gold leafing.

Chief Executive Chris Brownridge called the Centenary Collection “a tribute to 100 years of the world’s most revered luxury item,” describing it as “a motor car which reaffirms Phantom’s status as a symbol of ambition, artistic possibility, and historical gravitas.”

Inside, the rear seats feature more than 160,000 stitches across 45 panels of high-resolution printed and embroidered fabric inspired by historic Phantoms, developed in partnership with a fashion atelier.

The front seats are laser-etched with hand-drawn sketches that reference key design codenames, while the Anthology Gallery installation – 50 brushed aluminium fins engraved with a century of quotes – forms a centrepiece that reads like a living archive.

The exterior pairs Super Champagne Crystal paint with Arctic White and Black tones, finished with iridescent glass particles. Each car is crowned with a solid 18-carat gold Spirit of Ecstasy, enamelled and hallmarked with a bespoke “Phantom Centenary” mark. Even the famed RR badges have been plated in 24-carat gold and white enamel for the first time.

Bespoke woodwork depicts the Phantom’s most defining journeys, from Sir Henry Royce’s homes in France and England to the 4,500-mile expedition of the first Goodwood-era Phantom across Australia. Roads and landscapes are etched in gold, and interior embroidery continues these lines in gleaming thread.

The Starlight Headliner, with 440,000 stitches, portrays the mulberry tree under which Royce once worked, complete with bees from the marque’s Goodwood apiary and constellations referencing legendary Phantoms such as Sir Malcolm Campbell’s ‘Bluebird’.

Limited to 25 cars worldwide, the Phantom Centenary Private Collection stands as both an homage to Rolls-Royce’s past and a promise of its future, a modern-day heirloom crafted to be read, driven and remembered over generations.

Chinese EV Demand Sets Record. December Should Be Huge

Only 25 of the most intricate Rolls-Royce Phantoms ever made will celebrate the nameplate’s 100-year legacy.