Xpeng mentioned deliveries of its newly launched G9 SUV surged in October from September, regardless of a drop within the model’s general month-to-month deliveries.
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BEIJING — Chinese electrical automobile startup Xpeng delivered about half the variety of automobiles that rivals Nio and Li Auto did in October, in line with firm statements Tuesday.
While the 2 different startups reported month-to-month deliveries of greater than 10,000 every, Xpeng mentioned it delivered simply 5,101 automobiles — a third-straight month of decline.
Xpeng shares fell by 3% in U.S. buying and selling in a single day. Nio’s rose by 0.4% and Li Auto shares jumped by 6.9%.
China’s electrical automobile market is extremely aggressive. Older automakers BYD and Tesla lead month-to-month deliveries by far, whereas new entrant Huawei claims its Aito model has topped the ten,000-a-month mark lower than a 12 months since launch.
Deliveries of Xpeng’s best-selling mannequin, the P7 sedan, halved from September to October, with simply over 2,100 items delivered final month. The firm’s newly launched G9 SUV noticed deliveries surge from 184 items in September to 623 items in October.
Xpeng mentioned mass deliveries of the G9 started on Oct. 27. The firm has mentioned it expects the brand new mannequin to develop into its best-selling automobile subsequent 12 months.
Nio
Nio, which has focused the next value vary for each SUVs and sedans, mentioned it delivered 10,059 automobiles in October. That marked a slight decline from September, however marked a fifth-straight month of deliveries that topped 10,000.
“Vehicle manufacturing and supply have been constrained by operation challenges in our crops in addition to provide chain volatilities as a result of COVID-19 conditions in sure areas in China,” Nio mentioned in a press launch.
The firm mentioned its October deliveries included automobiles bought in Europe, however not these provided underneath an area subscription program.
Li Auto
Li Auto delivered 10,052 automobiles in October. Since May, the corporate has delivered greater than 10,000 automobiles each month, besides in August.
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After having just one mannequin in the marketplace since 2019, Li Auto has launched three new fashions in the previous few months — the L9 which started deliveries in August, the L8 which is about to start deliveries this month and the L7 which is about to succeed in shoppers early subsequent 12 months.
Unlike Xpeng and Nio, Li Auto’s automobiles should not purely electrical as they arrive with a gas tank to cost the battery and lengthen driving vary.
Among the three firms, Li Auto’s U.S.-listed shares have held up the most effective in a 12 months of broad market declines. The inventory is down by about 55% to this point this 12 months, whereas Nio shares have dropped by 69% and Xpeng is down by 87%.
