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Tesla, Along With Chinese Rivals, Reports July Delivery Numbers

Stock Markets Aug 01, 2022 12:24
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By Michael Elkins

Three Chinese electric vehicle companies: Nio Inc. (NYSE:NIO), Xpeng (NYSE:XPEV) and Li Auto Inc (NASDAQ:LI) announced July numbers today, with Xpeng leading the pack delivering 11,524 electric vehicles in the month. A 43% increase when compared with the same time last year.

July deliveries for Xpeng consisted of 6,397 P7s, the Company’s smart sports sedan, 3,608 P5 smart family sedans and 1,519 G3i smart compact SUVs.

According to a third-party report by GLJ Research analyst Gordon Johnson, Tesla (NASDAQ:TSLA) sold an estimated 10,500 cars in China and 650 cars in Europe during the first month of the company’s 3Q, bringing the total monthly numbers to 11,150 EVs in two of the biggest EV markets in the world.

Li Auto delivered 10,422 Li ONEs last month. Up 21.3% compared with the same time last year. However, the company also announced the 200,000th Li ONE to roll of the production line since the vehicle’s market debut in 2019.

Li’s co-founder and president, Yanan Shen commented, “Today, the 200,000th Li ONE rolled off the production line at our Changzhou manufacturing base. It took us just 986 days to reach the production milestone of 200,000 Li ONEs, once again setting a record speed among China’s emerging NEV manufacturers following our historic speed in reaching the 100,000-unit mark.”

Nio brought up the rear of the three Tesla rivals, reporting 10,052 vehicles delivered, representing an increase of 26.7% year-over-year. However, the deliveries fell from June when it delivered 12,961 cars, which was 60.3% higher than the previous month last year. It was the best month for NIO since it went public in 2018. Cumulative deliveries of NIO vehicles reached 227,949 as of July 31, 2022.

Li Auto and Xpeng Motors also reported a fall in their July deliveries as compared to June.

Tesla, Along With Chinese Rivals, Reports July Delivery Numbers
 

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