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HomeMarketNio EV deliveries rise 30% to a record in November, XPeng's tumbles...

Nio EV deliveries rise 30% to a record in November, XPeng’s tumbles 60%

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Nio Inc. reported Thursday that November deliveries that surged to a record monthly total, outpacing rival China-based electric vehicle makers by a wide margin.

The company said it delivered 14,178 EVs in November, up 30.3% from a year ago. The deliveries included 8,003 SUVs and 6,175 sedans, which consisted of 3,207 ET7s and 2,968 ET5s.

Shanghai-based Nio
NIO,
+21.71%
said it has now delivered a total of 273,741 EVs as of Nov. 30, and plans to accelerate production and deliveries in December.

The stock pulled back 1.2% in premarket trading, after soaring 21.7% Wednesday. The stock climbed 32.2% in November, the best monthly performance since it soared 65.2% in November 2020, as investors cheered recent moves China has made to ease COVID restrictions.

Nio’s stock pullback comes as the Invesco Golden Dragon China exchange-traded fund fell 1.5% in Thursday’s premarket, after rocketing a monthly record 41.8% in November. And S&P 500 index
SPX,
+3.09%
futures
ES00,
+0.19%
edged up 0.1% ahead of the open, after the index jumped 3.1% on Wednesday and gained 5.4% in November.

Beijing-based Li Auto Inc.
LI,
+18.73%
said it delivered a monthly record 15,034 EVs in November, 11.5% more than it did in the same month last year. The company has delivered a total of 236,101 EVs as of the end of the month.

The stock slumped 4.1% ahead of the open, but that followed an 18.7% run up on Wednesday and 61.5% rally in November.

Meanwhile, Guangzhou-based XPeng Inc.
XPEV,
+47.28%
said it delivered 5,811 EVs to customers in November, as it “mitigated challenges brought by COVID-related restrictions and disruptions.” That was down 62.8% from the 15,613 EVs delivered in November 2021.

It’s no wonder that while Nio and Li both reported year-over-year changes in November deliveries, XPeng didn’t report the year-over-year performance.

XPeng said that it has delivered 109,465 EVs year to date through Nov. 30, up 33% from the comparable period last year. And the company said it expects deliveries will “significantly increase” in December, as the production ramp-up of G9s accelerates under “normalized” operating conditions.

XPeng’s stock slid 5.1% in Thursday’s premarket, after it soared a one-day record 47.3% on Wednesday, despite reporting a wider-than-expected third-quarter loss. It hiked up 63.3% in November.

Credit: marketwatch.com

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