Huawei HIMA October deliveries drop 50.84% year-on-year, pushing year-to-date total into decline

• HIMA delivered 33,537 vehicles in October, down 50.84% year-on-year, marking its fifth consecutive month of year-on-year declines.
• Deliveries in the first 10 months totaled 400,766 vehicles, down 3.91% year-on-year, turning year-to-date growth negative for the first time this year.

Huawei-led Harmony Intelligent Mobility Alliance (HIMA) saw deliveries fall more than 50% year-on-year in October, pushing its cumulative deliveries this year below the year-earlier level for the first time.

HIMA delivered 33,537 vehicles in October, down 50.84% year-on-year and 10.54% from September, according to figures released on Sunday.

This marked the alliance's fifth consecutive month of year-on-year declines and its fourth straight month of sequential declines.

October deliveries fell to their lowest level since April, with the year-on-year decline widening from September's 29.15%.

In the first 10 months of this year, HIMA delivered 400,766 vehicles, down 3.91% year-on-year. By comparison, deliveries in the first 9 months were still up 5.27%.

HIMA said in its announcement that the average transaction price across its lineup exceeded 400,000 yuan ($59,580), while cumulative deliveries surpassed 1.6 million vehicles. The announcement did not provide an October delivery breakdown by brand or model.

The decline followed a recent wave of product launches across the alliance. In September, HIMA launched the the Luxeed RX and the updated Luxeed R7, opened reservations for the Stelato V8 and began pre-sales of the updated Aito M8.

Meanwhile, Huawei is adjusting its cooperation arrangements with Seres (HKEX: 9927) for the Aito brand. Aito was HIMA's first brand and remains among the alliance's most important sources of sales.

The companies announced on September 15 that Aito would explore a new cooperation model within the HIMA framework, led by Seres with support from Huawei. The arrangement covers product definition, design, marketing, retail and service operations.

Aito will remain within HIMA, and the companies subsequently signed a new 5-year agreement on September 30. Luxeed, Stelato, Maextro and Shangjie are outside the scope of this round of changes to the cooperation model.