China-primarily based electric vehicle (EV) makers Nio Ltd. (NYSE: NIO) and XPeng Inc. (NYSE: XPEV) on Thursday reported vehicle provide totals for March and for the most well-known quarter of the yr. Li Auto Inc. (NASDAQ: LI) is expected to file deliveries soon, and so is Tesla Inc. (NASDAQ: TSLA). The consensus estimate for Tesla’s first-quarter deliveries has settled around 162,000 models.
Nio stock, which traded at a 52-week excessive of with regards to $67 in January, now trades closer to $40. To command that investor search data from for EV makers’ shares has been solid is something of an irony. Even so, the companies continue to publish horny share will improve in deliveries, even in the occasion that they’re in accordance with reasonably small numbers.
For the month of March, Nio delivered 7,257 autos, a month-to-month file for the company and 373% elevated than the number delivered in March of 2020. For the quarter, Nio delivered a total of 20,060 EVs, a file quarter and up 423% yr over yr.
XPeng delivered 5,102 EVs in March, 384% elevated yr over yr and up 130% month over month. Deliveries for the most well-known quarter spot a novel file of 13,340 models, a yr-over-yr develop larger of 487%.
Within the fourth quarter of ultimate yr, Tesla delivered around 181,000 autos, and it came inside of a whisker of delivering 500,000 for the beefy yr. Analysts are waiting for the company to bring around 800,000 autos this yr, but taking off with about 20% of the expected total in the most well-known quarter is digging a hole that would be laborious for Tesla to smash out.
Chip shortages have plagued the auto industry in customary this yr and, in step with some reports, the dearth could perhaps no longer work itself out till no longer less than the tip of the yr. The shortages have led to non everlasting shutdowns in some Stellantis (previously Fiat Chrysler) and Ford vegetation in the US. Tesla halted production of its Model 3 in California for 2 weeks in gradual February due to the the chip shortage.
Nio mentioned in early March that it’d be slowing production from a previously forecast diploma of 10,000 autos month-to-month to 7,500 in the second quarter. That means an develop larger of around 12% quarter over quarter. The corporate halted production at one amongst its vegetation for five days foundation on March 29.
Nio shares traded up with regards to 8% early Thursday morning but backed off to a accomplish of around 2.5% in the noon hour. It changed into Trading at around $39.95, in a 52-week fluctuate of $2.22 to $66.99. The consensus label aim on the stock is $56.14
XPeng stock traded up with regards to 7.5% early Thursday but pulled relieve to a accomplish of about 2% at $37.25. The stock’s 52-week fluctuate is $17.11 to $74.49.
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