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.
Travellers are swapping traditional sightseeing for immersive experiences, with Africa emerging as a must-visit destination.
Wealthy Aussies are swapping large family homes for high-end apartments, with sales of prestige units tripling over the past decade.
The partnership gives Citizen Kanebridge members priority access to elite rallies, track days and Formula 1 hospitality, beginning with the Australian Grand Prix.
2 min
Citizen Kanebridge Car Club has announced a major new partnership with Bullrush Rally, Australia’s leading automotive lifestyle community, unlocking a powerful series of exclusive driving and motorsport experiences for its private members.
The collaboration will give Citizen Kanebridge members privileged access to Bullrush Rally’s coveted calendar, including supercar rallies, private track days, curated drive events and premium Formula 1 hospitality.
It marks a significant expansion of the club’s automotive offering and reinforces its position as a private members’ platform built around access, connection and exceptional experiences.
“This partnership with Bullrush Rally represents exactly the type of exclusive opportunities Citizen Kanebridge was created to deliver,” Marwan Rahme, CEO of Kanebridge Media, said.
“Bullrush has built an extraordinary community around automotive passion and lifestyle, and we’re incredibly excited to give our members access to these experiences.
“It’s about creating unforgettable moments and bringing like-minded people together through shared passions.”
The first experience available through the partnership will see Citizen Kanebridge Car Club members offered access to the Bullrush Rally Suite at the Formula 1 Qatar Airways Australian Grand Prix in Melbourne on Sunday, March 8.
Positioned on Walker Straight with a private trackside balcony, the Bullrush Rally Suite offers prime views of the main straight alongside gourmet dining, premium beverages, live entertainment and exclusive hospitality.
Guests will also have the opportunity to meet Günther Steiner, the former Haas Formula One Team Principal and one of the sport’s most recognisable figures, following his starring role in Netflix’s global hit series Drive to Survive.
Known for his candid leadership style and pivotal role in establishing the Haas team in Formula 1, Steiner has become one of the most influential and charismatic personalities in modern motorsport.
Founded in 2014, Bullrush Rally has grown into one of Australia’s most respected automotive communities, bringing together successful entrepreneurs, executives and enthusiasts through curated rallies, track days and high-end lifestyle events.
Beyond its luxury experiences, the organisation has raised more than $250,000 for charities supporting sick children, mental health initiatives and medical research across Australia.
Through the new partnership, Citizen Kanebridge Car Club members will gain priority access to Bullrush’s flagship events, including multi-day rallies, Formula 1 hospitality suites, exclusive track days and private member-only gatherings.
The collaboration represents a significant evolution of Citizen Kanebridge’s automotive offering, positioning the club at the centre of Australia’s most exclusive driving and motorsport experiences, while continuing to deliver the access and opportunities that define the private members’ platform.
A divide has opened in the tech job market between those with artificial-intelligence skills and everyone else.
Here’s how they are looking at artificial intelligence, interest rates and economic pressures.
