Chinese electric vehicle makers, including Li Auto (LI), NIO (NIO), and XPeng (XPEV), announced their vehicle delivery numbers for the month of August. The news seemed to cheer investors, and all three stocks were on an upswing in pre-market trading on Friday.
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Let us look at these numbers in more detail.
Li Auto’s Vehicle Delivery Numbers Skyrocket
Li Auto’s vehicle deliveries skyrocketed by 663.8% year-over-year in August to 34,914, as monthly deliveries for each of the three Li L series models exceeded 10,000 units. On a month-over-month basis, vehicle deliveries grew by 2.3%. By the end of August, cumulative vehicle deliveries reached 208,165.
Xiang Li, Chairman and CEO of Li Auto, commented, “From January to August this year, we captured an over 30% market share in the RMB300,000 and higher NEV [new energy vehicle] market in China, winning the premium NEV sales champion title.”
XPeng Maintained Its Growth Momentum in August
XPeng’s vehicle deliveries went up by 43% year-over-year to 13,690 Smart EVs and grew by 24% month-over-month. From the start of this year, XPeng’s monthly deliveries have continued to be on an upward trajectory, indicating a solid growth momentum.
The company’s G6 deliveries reached 7,068 units, with cumulative G6 deliveries coming to more than 11,000 units. Production of the G6 has ramped up significantly. The company added that in the 45 days following the delivery of G6, it has surpassed 10,000 deliveries.
NIO’s Deliveries Drive Up Higher
NIO’s vehicle deliveries increased by 81% year-over-year to 19,329 vehicles in August. However, on a quarter-over-quarter basis, vehicle deliveries ticked lower by 5.5%. The company’s deliveries consisted of 12,015 premium smart electric SUVs and 7,314 premium smart electric sedans.
By the end of August, cumulative vehicle deliveries reached 383,908. Year-to-date, the company delivered 94,352 vehicles, up by 31.9% year-over-year.
The rising interest in electric vehicles has led to the SPDR S&P Kensho Smart Mobility ETF (HAIL) gaining more than 12% year-to-date.
