Sales by Li, Nio and Xpeng beat expectations by 1,000 to 2,000 units, CMB International analysts including Ji Shi wrote in a note.
Nio’s sales almost doubled from the previous month. Volume is on the rise after an Abu Dhabi investment entity agreed in June to take a 7 percent stake in the Shanghai-based manufacturer for about $740 million.
The uptick in sales suggests a turn in fortunes for Nio, which posted a bigger-than-expected loss of 4.74 billion yuan ($660 million) in the quarter through March and then saw sales slip to under 13,000 EVs for April and May combined.
China has made pledges recently to stoke auto demand as part of a broader push to boost the economy, including a 10-step plan to increase car purchases, particularly NEVs. In June, the Ministry of Commerce launched a six-month campaign to lift car purchases and drive EV adoption in rural areas.