Li Auto, XPeng, and Nio Report September Sales
© Reuters Li Auto (LI), XPeng (XPEV), and Nio (NIO) Report September Sales
By Michael Elkins
Chinese electric vehicle companies Li Auto (NASDAQ:), Nio (NYSE:), and XPeng (NYSE:) reported September sales/delivery numbers, with Li Auto leading the pack.
LI reported 11.5k unit deliveries in September, up 63% compared to this time last year, and 152% compared to last month. Li delivered 10.1k units of L9 in the first month of delivery. The company also launched the Li L8 and L7 electric SUVs on Friday, September 30th.
NIO reported September deliveries of 10.9k units. Up 2% year-over-year and 2% compared to last month. The company recorded 1.9k units of ES7, 3.0k units of ET7, and 221 units of ET5 in its first month of delivery.
Bank of America analysts wrote in a note that “NIO expects to improve ET5 capacity and boost its delivery more significantly from October with more diversified suppliers. With the newly launched ES7, ET7 and ET5, the sales volume will be supported through stronger model cycle. As of single month September, NIO’s charging network in China newly added 60 power swap stations, 55 super charging stations and 46 destination charging stations.”
Xpeng trailed the pack with 8.5k unit deliveries in September, down 19% compared to last year and 12% compared to August. September sales consisted of 1.2k units of G3i, 4.6k units of P7, 2.4k units of P5, and 184 units of G9.