The Geely-backed carmaker Zeekr saw its sales decline 1.1% in China between May 19 and 25.
According to data shared on Chinese social media this Tuesday, the brand registered 3,600 vehicles in its home market — 40 units below the figures from the previous week.
Last week numbers marked the second consecutive drop, after the brand posted its second best sales week year to date in early May with 4,310 units.
Zeekr‘s domestic sales have averaged 3,232 weekly units since the beginning of the quarter.
The Lynk&Co brand sold 4,700 units from May 19 to 25, down 4.1% from the 4,900 vehicles sold in the previous week.
Between January 1 and May 25, the Zeekr brand sold 64,700 units in China, while Lynk&Co sold 97,900 vehicles, bringing the Zeekr Group‘s total sales year to date to 162,600 vehicles.
The premium brand aims to deliver 320,000 vehicles globally in 2025, a 40% increase from the previous year, and part of the broader Zeekr group goal 0f 710,000 units.
The brand stood slightly below its competitor Nio, which sold 3,480 units last week. The Shanghai-based company outperformed Zeekr in the first full week of May, after falling behind the week before.
Li Auto registered 10,500 units last week. The Huawei-backed carmaker Aito and Leapmotor followed with 8,800 and 7,200 units, respectively.
Xiaomi‘s sales declined to 6,800 units between May 19 and 25, and XPeng sold 5,700 vehicles, marking the second consecutive week below 6,000 units.
BYD led the sales ranking with 53,300 hybrid and fully electric models registered last week, however, it was the brand’s lowest weekly total since early April.
Tesla‘s registrations remained stable at 11,000 units despite a slight 1% drop, its second best week of the quarter.
Price War in China
Over the weekend, BYD announced a temporary price cut of up to 35% across 22 of its models, triggering a sell-off in Chinese EV stocks in Hong Kong — shares of BYD fell 9% on early Monday, while Li Auto, Nio and XPeng each fell between 3% and 4.5%.
Stellantis-backed startup Leapmotor and SAIC’s premium EV brand IM Motors cut prices between 18% and 30% on Monday. The Geely brand Galaxy followed, reducing prices by 8% to 18% across its entire lineup.
As of Tuesday, it’s still unclear whether other Geely-backed brands, such as Zeekr, will offer any temporary or permanent discounts.
7X in Europe
Last week, Zeekr started European deliveries of its 7X SUV, with the first unit rolling out in Norway. The urban SUV is priced from 393,969 NOK ($38,180). In the Netherlands, the Zeekr 7X starts at €52,990 — equivalent to $60,100.
The brand is present in the Dutch, Swedish and Norwegian markets, while preparing to enter Germany via local dealership networks, EV learned in late April.
Zeekr delivered 13,727 vehicles in April, which represented a 1.5% increase from March. The brand saw sales growth last month in Norway and the Netherlands. However, in Sweden, where it is headquartered, registrations dropped by 51%.
The 7X SUV is set to launch in Australia later this year, and had its pricing details leaked last week. Prices in the island will start between AU$65,000 and AU$70,000 ($41,900-$45,000) for the entry-level variant, the 7X Rear-Wheel Drive.
After only producing fully electric vehicles, the company unveiled its plug-in hybrid technology at the Shanghai Auto Show last month.
Zeekr plans to launch two hybrid models later this year — one in the third quarter and another in the fourth.
