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HomeMarketNIO and Li Auto Deliveries Set Records. That's Good News for Tesla.

NIO and Li Auto Deliveries Set Records. That’s Good News for Tesla.

An employee stands next to a ET7 sedan at a NIO dealership in Shanghai.

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Qilai Shen/Bloomberg

Chinese electric-vehicle makers
Li Auto
set new monthly delivery records in November. The results will come as a relief to weary EV investors.

(ticker: NIO) reported deliveries last month of 14,178 vehicles, up 41% from October and 9% higher than the previous monthly record of 12,961 set in June 2022. Deliveries this year are now at 106,671 vehicles, up 32% from the same span of 2021.

NIO said it plans to accelerate production and delivery in December as well. Another record in December would go a long way to soothing investors frayed nerves. Rising interest rates, inflation, more EV competition as well as disruptions from China’s zero-Covid policies have sapped investor enthusiasm for richly valued, high-growth EV stocks. Coming into Thursday trading, NIO stock has fallen about 60% this year.

Shares were down almost 3.5% in U.S. premarket trading, but that isn’t indicative of how investors feel about the delivery result. NIO stock soared almost 22% on Wednesday after China reduced some Covid-related restrictions.

Li Auto
(LI) auto shares soared almost 19% on Wednesday. Li stock was off about 5% in premarket trading on Thursday, but its delivery results for November impressed as well.

Li reported 15,034 deliveries for November, up almost 50% from October and 7% higher than the prior monthly high of 14,087 vehicles delivered in December 2021. Li this year has reported 112,013 units delivered, up about 47% year over year.

Li sales have been some of the strongest among Chinese EV peers and its stock has held up better than most. Coming into Thursday trading, Li stock has fallen about 31% in 2022.

XPeng (XPEV) stock is on the other end of that spectrum. Coming into Thursday trading, shares have dropped about 79% this year. Investors have been concerned with weak sales volumes amid a relatively older product lineup.

XPeng’s November deliveries came in at 5,811 units, up from 5,101 vehicles delivered in October. That’s far off the monthly delivery record of 16,000 units set in December 2021. XPeng has delivered 109,465 units this year, up about 33% from the same span of 2021.

“The company delivered 1,546 Flagship G9 SUVs to customers in November against a challenging operating backdrop which affected G9’s production ramp-up and delivery services in certain areas,” read part of XPeng’s news release.

The G9 is the company’s newest model. On the company’s third-quarter earnings conference call Wednesday, XPeng management said that G9 sales should pick up and December and total company deliveries should be closer to 10,000 units. News of the pending delivery rebound sent XPeng shares up more than 47%.

The stock was giving up some of that huge gain in premarket trading Thursday. Shares fell about 9%.

Despite the early drops, the delivery results should be good enough for investors that wanted to see improvement in China, the world’s largest market for new cars and new EVs. Electric-vehicle leader
(TSLA) generates about 25% of sales in China.

shares were down 0.6% in premarket trading after rising 7.7% Wednesday.
S&P 500
Dow Jones Industrial Average
futures fell 0.1% and 0.2%, respectively.

Coming into Thursday trading, Tesla shares have dropped 45% this year.

Write to Al Root at


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