Shares of Chinese EV makers Li Auto (NASDAQ:LI), Nio (NYSE:NIO), and XPeng (NYSE:XPEV) are in focus today after the companies announced delivery numbers for the month of July.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
In July, Li Auto delivered 34,134 vehicles, clocking a 227.5% year-over-year growth. The company has now delivered 173,251 vehicles so far this year. It has delivered more than 50,000 Li L7 SUVs since March and is planning an over-the-air rollout of the Li Magic carpet air suspension 2.0 this month to improve user experience.
While Li shares are up nearly 2%, Nio shares are trending marginally lower at the time of writing despite clocking a 103.6% jump in deliveries for the month to 20,462. The company’s ES6 SUV continues to track well and has surpassed 10,000 monthly units since its launch in May.
Finally, XPeng saw its monthly deliveries rise by 28% sequentially to 11,008. In July, its G6 Ultra Smart coupe SUV began mass deliveries in 110 cities and the company is looking to ramp up G6 production even as its production facilities run at full capacity. Last week, XPeng announced a partnership with Volkswagen for the development of two B-class battery EV models under the Volkswagen brand. XPeng Shares too are down more than 1% today.
Li Auto has continued to outperform Nio and XPeng on the bourses so far in 2023. While analysts remain Bullish about the stock with a Strong Buy consensus rating, the consensus on Nio is a Moderate Buy pointing to a cautiously optimistic stance.
Read full Disclosure
