China’s electric-vehicle shipment numbers were released just as September began. They are key to many EV makers, including leaders.
They are also key for investors who want to see strong demand.
So far so good. Beginners
Lee presented 34,914 cars in August, a record for any month. Lee offered 34,134 in July, which was a record for the company at the time. Amid the Covid-19 lockdowns in China, Li delivered only 4,571 units in August 2022. Lee has delivered more than 208,000 vehicles by 2023, an estimated 175%.
NIO presented Compared to 19,329 cars in August 20,462 in JulyIt was a record month for NOA. A year ago, NIO delivered 10,677 vehicles. NIO in 2010 Deliver 94,000 cars by 2023, roughly 32% year-over-year.
Xpeng
presented 13,690 cars in August, compared to 11,008 in July. Xpeng’s monthly record was 16,000 units in December 2021. The company has been struggling to grow its volume in recent months. In the year By 2023, supplies were approximately 66,000 units, down about 26% year over year.
Struggles are reflected in share prices. Xpeng was about $17 a year ago and traded below $7 in early 2023.
Recently, Xpeng shares have performed much better, helped by a $700 million investment.
Volkswagen
(VOW.Germany) The pair will produce two EVs for the Chinese market.
Coming into Friday, Xpeng stock was up about 3% over the past 12 months. Shares rose another 4.1% in premarket trading following the shipment numbers.
S&P 500
And
Nasdaq Composite
Futures rose 0.2% and 0.1%, respectively.
NIO stock is down 45% in the past 12 months. High interest rates and falling car prices weighed on investor sentiment. Shares rose 1.3 percent in premarket trading.
Lee’s strong shipments helped the stock rise despite the economic headwinds. The stock is up 49 percent over the past 12 months. Shares rose another 2.9 percent in premarket trading.
Together, the three entities delivered more than 68,000 units, up from around 25,000 a year ago. That’s the highest total for the three EV makers. So far this year, combined shipments are about 360,000 units, up about 50% year over year.
Growing supplies bode well for Li, NIO and Xpeng. It also bodes well for China’s EV industry. Demand for EVs in the world’s largest market for new cars appears strong.
Write to Al Root at [email protected]
