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Nio, Xpeng EV Gross sales Surge However Tempo Slows Amid Chip Woes, Tesla Ramping Up 

Nio (NIO), Xpeng Motors (XPEV) and Li Auto (LI) all grew April gross sales triple digits on house turf regardless of a chip scarcity that idled a Nio manufacturing facility for a couple of days. Gross sales slowed for the trio of Chinese language EV startups vs. March’s tempo, as Tesla (TSLA) ramps up competitors.

Nio inventory reversed barely Monday, whereas Xpeng and Li Auto additionally  fell.

12 months over yr, Nio’s April gross sales jumped 125% to five,147 electrical automobiles. That included 1,523 seven-seater ES8 SUVs, 3,163 five-seater ES6 SUVs, and a pair of,416 EC6 electrical crossovers.

Gross sales progress slowed from the 373% tempo that Nio noticed in March.

However Nio’s April EV gross sales defied the chip scarcity that pressured the rising Tesla of China to quickly droop manufacturing facility manufacturing for 5 days beginning March 29.

12 months over yr, Xpeng Motors noticed April gross sales surge 285% to five,147 electrical automobiles. That included 2,995 P7 sedans and a pair of,152 G3 compact SUVs.

Nonetheless, progress slowed from March’s 384% tempo.

12 months over yr, Li Auto’s April gross sales elevated 111% to five,539 hybrid-electric SUVs. Gross sales progress slowed from March’s 239% tempo.

Li Auto reached a milestone 500,000th supply sooner than any of its friends, the Chinese language EV startup stated in a press release.

Month to month, Nio gross sales fell 2.1%. Nio final week indicated that Q2 deliveries would roughly flat vs. Q1 amid chip shortages. Xpeng gross sales rose 1% vs. March. Li Auto gross sales climbed 13% vs. the prior month.

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Nio Inventory, Xpeng Inventory

Shares of Nio fell 0.75% to 39.54 on the inventory market at this time after hitting 41.45 intraday. Nio inventory has been assembly resistance on the 50-day line after bouncing off the 200-day line in mid-April. Xpeng inventory fell 3% and hasn’t traded above the 50-day line since February. Li Auto misplaced 1.5%.

All three EV shares stay in a extreme bear market on a large number of things, together with rising competitors in China. Tesla, which dominates the Chinese language marketplace for luxurious EVs, started promoting a domestically made Mannequin Y SUV this yr.

Tesla inventory slumped 3.5% amid a report that the important thing Berlin plant will not begin manufacturing till 2022. Shares closed simply above their declining 50-day line. TSLA inventory rebounded above the 50-day line on Friday, after tumbling greater than 8% within the three days after the EV maker’s earnings.

China EV Competitors Heats Up

After booming gross sales in 2020, Nio and Xpeng face more durable competitors forward. Tesla formally launched the brand new made-in-Shanghai Mannequin Y crossover Jan. 1, a rival to Nio’s EC6 and Xpeng’s G7, and is ramping up gross sales. It already bought a domestically made Mannequin 3 sedan in China.

Conventional auto giants are ramping up EV plans in China. Volkswagen (VWAGY) started deliveries of its made-in-China ID.4 crossover in late March. Ford (F) is taking preorders for Mach-E crossover, which is starting native manufacturing.

Final month, Tesla hiked costs of made-in-China Mannequin Y SUVs. The value improve signaled that Tesla is “snug” with gross sales of its latest EV for the Chinese language market, native studies stated.

As Tesla rises, Nio and its China EV inventory friends all plan to introduce new, extra attractively priced EVs. Final month, Xpeng confirmed off a smaller electrical sedan that it touts because the world’s first mass-produced EV with lidar sensors.

In line with Wedbush analysts, “China stays a greenfield EV market alternative as we consider EV gross sales can doubtlessly double within the area over the following few years.”

Discover Aparna Narayanan on Twitter at @IBD_Aparna.


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