China-based electric vehicle (EV) makers NIO Inc. (NIO Quick QuoteNIO - Free Report) , Li Auto (LI Quick QuoteLI - Free Report) and XPeng Inc. (XPEV Quick QuoteXPEV - Free Report) recently released their delivery numbers for the month of November. All the three firms recorded a triple-digit percentage increase in their delivery count on a year-over-year basis despite the global chip crisis.

XPeng held the top spot, with its deliveries totaling 15,613 units, rocketing 270% year over year. The P7 model accounted for 50.2% of the total deliveries. The number of P7s sold during the month totaled 7,839, up 187% year over year. XPeng’s deliveries also comprised 2,154 P5s, 5,546 G3is and 74 G3s. As of Nov 30, the firm’s cumulative deliveries totaled 121,953 units.

Li Auto delivered 13,485 Li ONEs in November, up 190.2% year over year. With more than 13K deliveries, it set a new monthly record. The company claims Li ONE to be the first domestic branded premium model priced above RMB 300,000 in China to achieve the 10K monthly deliveries milestone.  As of Nov 30, Li Auto’s cumulative deliveries totaled 110,001 units.

NIO delivered 10,878 vehicles in November, representing a year-over-year uptick of 105.6%. The deliveries consisted of 2,683 ES8s, 4,713 ES6s and 3,482 EC6s. As of Nov 30, cumulative deliveries of the ES8, ES6 and EC6 reached 156,581 units. NIO claims to have achieved record-high monthly delivery in November, reflecting increasing user demand.

Despite delivering robust delivery numbers, each of the companies closed in the red in yesterday’s trading session. Shares of NIO, LI and XPEV fell 5.5%, 3.4% and 5.6%, respectively, on rising COVID-19 concerns. Investors are understandably rattled by the new strain of the coronavirus, Omicron, which aroused fresh concerns about potential business disruptions in China.  While NIO and XPeng currently carry a Zacks Rank #3 (Hold), Li Auto is Ranked #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.