Chinese EV Sales Surge In August
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Electric vehicle (EV) sales continue to grow in China, which is positive news for the industry, but it hasn't been enough to lift the share prices of EV makers.
Over the weekend, Chinese EV manufacturers Li Auto, NIO, XPeng, and BYD reported their August delivery figures.
Li Auto delivered 48,122 vehicles in August, marking a 38% increase compared to the same month last year. The company expects to deliver around 150,000 vehicles in the third quarter, leaving approximately 51,000 vehicles needed in September to meet the midpoint of its guidance.
XPeng delivered 14,036 cars in August, representing a modest 1% increase from the previous year. XPeng aims to deliver around 43,000 cars in the third quarter, meaning it needs to deliver about 18,000 cars in September to reach the midpoint of its guidance. NIO delivered 20,176 vehicles in August, a 4% increase year-over-year. It was the fourth consecutive month that NIO topped 20,000 deliveries. NIO has yet to provide guidance for third-quarter deliveries, as it typically does so with its quarterly financials, which are expected to be reported on September 5. The trio of Li Auto, NIO, and XPeng delivered a combined 82,334 vehicles in August, up more than 20% from the previous year. This marks the second consecutive quarter above 80,000 units and the third-best combined result ever.
So far this year, these three companies have sold approximately 493,000 EVs, an increase of about 34%. Chinese EV sales continue to grow, capturing more market share from traditional vehicles. Electrified cars, including plug-in hybrids, have accounted for more than 50% of new car sales in recent months. BYD, China’s largest EV maker, which produces both all-electric and plug-in hybrid vehicles, sold 370,084 vehicles in August, up 35% year-over-year. Sales of all-electric vehicles totaled 148,470 units, a 2% increase, while plug-in hybrid sales surged 73% to 222,384 units.
Overall, passenger vehicle sales for all four EV makers jumped about 32% from last year, with all-electric car sales growing by about 8%.
However, while growth is evident, it hasn't translated into gains in share prices. Increased competition in the EV market has led to lower prices and shrinking profit margins. As of last Friday, shares of Li Auto, XPeng, and NIO had declined by approximately 48%, 45%, and 55%, respectively.
Source: sharecafe
Over the weekend, Chinese EV manufacturers Li Auto, NIO, XPeng, and BYD reported their August delivery figures.
Li Auto delivered 48,122 vehicles in August, marking a 38% increase compared to the same month last year. The company expects to deliver around 150,000 vehicles in the third quarter, leaving approximately 51,000 vehicles needed in September to meet the midpoint of its guidance.
XPeng delivered 14,036 cars in August, representing a modest 1% increase from the previous year. XPeng aims to deliver around 43,000 cars in the third quarter, meaning it needs to deliver about 18,000 cars in September to reach the midpoint of its guidance. NIO delivered 20,176 vehicles in August, a 4% increase year-over-year. It was the fourth consecutive month that NIO topped 20,000 deliveries. NIO has yet to provide guidance for third-quarter deliveries, as it typically does so with its quarterly financials, which are expected to be reported on September 5. The trio of Li Auto, NIO, and XPeng delivered a combined 82,334 vehicles in August, up more than 20% from the previous year. This marks the second consecutive quarter above 80,000 units and the third-best combined result ever.
So far this year, these three companies have sold approximately 493,000 EVs, an increase of about 34%. Chinese EV sales continue to grow, capturing more market share from traditional vehicles. Electrified cars, including plug-in hybrids, have accounted for more than 50% of new car sales in recent months. BYD, China’s largest EV maker, which produces both all-electric and plug-in hybrid vehicles, sold 370,084 vehicles in August, up 35% year-over-year. Sales of all-electric vehicles totaled 148,470 units, a 2% increase, while plug-in hybrid sales surged 73% to 222,384 units.
Overall, passenger vehicle sales for all four EV makers jumped about 32% from last year, with all-electric car sales growing by about 8%.
However, while growth is evident, it hasn't translated into gains in share prices. Increased competition in the EV market has led to lower prices and shrinking profit margins. As of last Friday, shares of Li Auto, XPeng, and NIO had declined by approximately 48%, 45%, and 55%, respectively.
Source: sharecafe
03 Sep 2024