XPeng, Nio, Other Chinese Electric Carmakers Slump Despite Soaring Sales
Zhang Yushuo
DATE:  Dec 02 2021
/ SOURCE:  Yicai
XPeng, Nio, Other Chinese Electric Carmakers Slump Despite Soaring Sales XPeng, Nio, Other Chinese Electric Carmakers Slump Despite Soaring Sales

(Yicai Global) Dec. 2 -- The US shares of XPeng Motors, Nio, Li Auto and other Chinese new energy vehicle makers tumbled yesterday as they followed the main indexes downwards despite a big leap in sales.

Xpeng’s stock [NYSE:XPEV] closed down 7 percent at USD51.14 apiece, Nio [NYSE: NIO] finished 2.1 percent lower at USD38.31 and Li Auto [NASDAQ: LI] dipped 0.96 percent to end the day at USD35.10. The Nasdaq fell 1.83 percent to 15,254.05 and the Dow Jones dipped 1.34 percent to 34,022.04 amid concerns about the new Covid-19 variant and other worries.

Yet sales were up. Guangzhou-based Xpeng’s sales nearly quadrupled in November from the same period last year to 15,613 autos, according to the latest data. Li Auto’s deliveries almost tripled to 13,485 units, Nio’s doubled to 10,878 units, Hozon Auto’s surged nearly five-fold to 10,013 units, Leap Motor’s more than tripled to 5,628 units and WM Motor’s gained 66.6 percent to 5,027.

The fourth quarter is a peak time for automobile sales, so sales will stay high this month as the chip shortage eases, Minsheng Securities said. China’s NEV sales next year should top five million units as more new models are released, it added. In the first ten months, the country shifted 2.5 million autos, nearly double what it did the same period last year.

Non-EV specialists also did well. GAC Aion has already achieved its goal of selling 100,000 vehicles, and in November sales more than doubled from the year before to 14,566 units. Volkswagen ID, Geely Holding Group's smart electric vehicle brand Zeekr and Dongfeng Motor’s EV brand Voyah delivered 14,167 units, 2,012 units, and 1,139 units respectively.

Editor: Kim Taylor

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Keywords:   XPeng,Nio,Li Auto,Nazha