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NIO, XPeng (XPEV), LI Auto (LI) Issue August Delivery Updates

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The three China-based smart electric vehicle (EV) companies, NIO Inc. (NIO - Free Report) , XPeng Inc. (XPEV - Free Report) and Li Auto (LI - Free Report) , recently announced their respective delivery updates for August 2022.

NIO delivered 10,677 vehicles in August, up 81.6% year over year. The deliveries include 7,551 premium smart electric SUVs and 3,126 premium smart electric sedans. Cumulative deliveries of NIO vehicles reached 238,626 as of Aug 31, 2022.

In August, NIO started boosting the production of the new ES7 SUV, a mid-large five-seater premium smart electric SUV featuring the NIO Technology 2.0 (NT2) unveiled in June and rolled out the first orders to customers in China. In the month, 398 units of ES7 were delivered.

Year to date, NIO delivered 71,556 vehicles rising 28.3% year over year.

NIO’s monthly deliveries rose 6% from July’s figure of 10,052 vehicles.

XPeng reported 9,578 monthly deliveries of Smart EVs in August, representing a 33% uptick year over year. The figure comprises 5,745 P7s, XPeng’s smart sports sedan, 2,678 P5 smart family sedans and 1,155 G3i and G3 smart compact SUVs.

The company delivered 90,085 Smart EVs for the first eight months of the year, representing a 96% increase year over year.

XPeng saw a fall in month-on-month sales of 16% from 11,524 cars in July.

Li Auto saw deliveries of 4,571 vehicles in August 2022, steeply falling 51% year over year. Its cumulative deliveries totaled 199,484 as of the end of the month.

In August, Li commenced deliveries of the Li L9, its six-seater, full-size flagship SUV for families, which was launched in June. Initial responses from the SUV’s early customers have been positive.

Moreover, the company stated that it was getting ready to launch Li L8, a large premium smart SUV for families, in early November, with deliveries commencing in the same month. The Li L8 model will be available in two variants, namely a six-seater and a VIP five-seater to cater to diverse family groups.

As of Aug 31, 2022, Li’s retail stores summed 265 in 118 cities, its servicing centers were 316 and Li Auto-authorized body and paint shops were operating in 226 cities.

Li’s monthly sales saw the steepest decline of 56% from 10,422 vehicles in July.

One Year Price Performance

Shares of NIO, XPEV and LI have lost 53.4%, 56.4% and 7.8%, respectively, over the past year.

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Zacks Rank & Key Pick

NIO, XPEV and LI each carry a Zacks Rank #3 (Hold), currently.

A better-ranked player in the auto space is LCI Industries (LCII - Free Report) , carrying a Zacks Rank #2 (Buy), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

LCI Industries has an expected earnings growth rate of 68.1% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 1.8% upward in the past 30 days.

LCI Industries’ earnings beat the Zacks Consensus Estimate in all the trailing four quarters. LCII pulled off a trailing four-quarter earnings surprise of 26.48%, on average. The stock has declined 16% over the past year.

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