Just entering July, the new automakers have all released their delivery report cards. $Li Auto(LI.US) delivered over 47,800 vehicles in June; $ZEEKR Intelligent Tech(ZK.US) broke the 20,000 monthly delivery mark. Nio delivered 21,200 vehicles in June; XPeng delivered 10,668 vehicles; Leapmotor reached 20,116 units.

Among the listed companies, except for Leapmotor and ZEEKR, the others have already provided quarterly sales guidance in advance.

From the performance of these companies, both Li Auto and XPeng met their quarterly guidance. Li Auto, in particular, performed well by nearing the upper limit of its guidance, which was already set at a relatively high level. However, the company's recent stock price has been under pressure due to the strong performance of Aito M9, which impacted sales of Li Auto's premium models L8 & L9. Despite this, meeting the sales guidance provided some positive sentiment.

The real outperformers among these companies were Nio and Leapmotor: Nio had initially implied that sales would decline after the promotional period for its BaaS (Battery as a Service) program ended. However, June deliveries exceeded 20,000 units, and the slowdown post-promotion was less severe than expected. Leapmotor, on the other hand, showed consistent month-over-month growth, breaking the 20,000 monthly delivery mark for the first time in June. The focus now is on its ability to sustain this momentum.