Morgan Stanley reviews March China auto data

Investing.com – According to Morgan Stanley, XPeng Motors plans to launch a new Mona M03 model on Thursday featuring an AI Turing chip. Investors are watching how orders convert from the steadily growing VLA 2.0 test drives.

BYD’s overseas sales in March reached 120,000 units, up 19% from February. Total overseas sales in the first quarter were 321,000 units, up 56% year over year. The company still expects to achieve its full-year sales target of 1.5 million units or more.

Li Auto’s delivery volume was about 5,000 vehicles higher than its first-quarter guidance. In March, the i6 model delivered about 24,000 units, compared with 16,000 units in February. The company plans to roll out a refreshed L9 Livis model in the second quarter.

Nio delivered 16,300 units of its ES8 model in March, up 44% from February. The company’s Lecheng and Firefly brands delivered 6,900 units and 6,100 units respectively, up 131% and 130% versus the previous month. Nio will launch the ES9 model on April 9.

Geely’s March deliveries were 233,000 units, up 13% from February and flat with the same period last year. Overseas sales reached 82,000 units, up 34% from February. Lynk & Co delivered 25,000 units, up 1% year over year, while Zeekr sales reached 29,000 units, up 90% from March 2025.

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