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General Motors Company (GM) - free report >>
NIO Inc. (NIO) - free report >>
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NIO, XPeng (XPEV), LI Auto (LI) Issue May Delivery Updates
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 May 2023.
NIO delivered 6,155 vehicles in May, down 12.4% year over year. The deliveries included 2,396 premium smart electric SUVs and 3,759 premium smart electric sedans. Cumulative deliveries of NIO vehicles reached 333,410 as of May 31, 2023.
On May 19, NIO began deliveries of the 2023 ET7 and launched the All-New ES6. It started deliveries of the same on May 24.
Year to date, NIO has delivered 43,854 vehicles, up 15.8% year over year.
NIO’s monthly deliveries fell 7.6% from April’s figure of 6,658 vehicles.
XPeng reported 7,506 monthly deliveries of Smart EVs in May, representing a 25.9% decline year over year.
The company delivered 32,815 smart EVs for the first five months of the year, representing a 39% decline year over year.
XPeng saw a rise in month-on-month sales of 6% from 7,079 cars in April.
Li Auto delivered 28,277 vehicles in May 2023, up 146% year over year. This marked the third straight month with deliveries of more than 20,000 units. Also, May was the second consecutive month in which Li L7s deliveries exceeded 10,000 . LI’s cumulative deliveries totaled 363,876 as of month-end.
As of May 31, 2023, Li’s retail stores totaled 314 in 124 cities. Its servicing centers totaled 319 and Li Auto-authorized body and paint shops operated in 222 cities.
Li’s monthly sales saw a rise of 10.1% from 25,681 vehicles in April.
One-Year Price Performance
While shares of LI have risen 7.8%, shares of NIO and XPEV have lost 58.8% and 67.8%, respectively, over the past year.
Image Source: Zacks Investment Research
Zacks Rank
Li currently sports a Zacks Rank #1 (Strong Buy) while NIO & XPEV carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
General Motors (GM - Free Report) is another top-ranked player, carrying the same rank as Li.
General Motors is one of the world’s largest automakers. The Zacks Consensus Estimate for GM’s 2023 sales indicates year-over-year growth of 4.5%.