Citi expects XPeng and Leapmotor to stand out in China in October

In Citi’s regular checks with about 20–30 car dealers in China, XPeng’s new orders in China in the first 11 days of October were 7% above September’s pace, while the industry’s electric-car orders fell 8%, AASTOCKS reported on 14 October. Citi expects XPeng and Leapmotor to stand out in October. Leapmotor’s orders rose 48%, Geely’s Galaxy 27%, Tesla’s 15% and Zeekr’s 11%, while Li Auto’s fell 34% and Xiaomi’s 56%; without Xiaomi’s high September base, the industry rose 3%. XPulse’s own records point the same way: the MONA L03’s quoted waits grew by about two weeks from 4 to 10 October, and Jiang Wen, general manager of XPeng’s MONA range, said on 14 October that L03 output reaches full capacity this month. The MONA L05 opens for pre-sale on 15 October, and XPeng’s October deliveries are due on 1 November.