NIO, XPeng (XPEV) & LI Auto (LI) Post Q3 Delivery Updates

The three China-based smart electric vehicle (EV) companies, NIO Inc. NIO, XPeng Inc. XPEV and Li Auto LI, recently announced the respective delivery updates for September and third-quarter 2023.

NIO delivered 15,641 vehicles in September, up 43.8% year-over-year and 15% month over month. The deliveries included 11,504 premium smart electric SUVs and 4,137 premium smart electric sedans.

The company delivered 55,432 vehicles in the third quarter of 2023, up 75.4% year over year. As of Sep 30, 2023, NIO’s cumulative deliveries reached 399,549 units. Year-to-date, the company has delivered 1,09,993 vehicles, up 33.4% year over year. On Sep 15, NIO launched and commenced deliveries of the all-new EC6.

XPeng reported 15,310 monthly deliveries of smart EVs in September, representing an 81% year-over-year increase and 12% month over month. It delivered 40,008 vehicles in the third quarter of 2023, up 35.3% year over year. As of September 2023, the company delivered 340,008 smart EVs.

XPENG G6 deliveries totaled 8,132 units in September, bringing its cumulative deliveries to 19,381 units. The expanded production capacity of G6 has resulted in accelerated deliveries. XPENG started delivering its first batch of G9 vehicles in Norway, Sweden, the Netherlands and Denmark.

Li Auto delivered 36,060 vehicles in September 2023, up 212.7% year-over-year and 3.3% month over month. The company delivered 105,108 vehicles in the third quarter of 2023, up 296.3% year over year. As of Sep 30, 2023, Li Auto’s cumulative deliveries reached 244,225. For each of the three Li L series models, monthly deliveries surpassed 10,000 vehicles for the second consecutive month in September. Li reported a new high in order intake of more than 40,000 orders in September. As of Sep 30, 2023, its retail stores totaled 361 in 131 cities. Li’s servicing centers totaled 318 and Li Auto-authorized body and paint shops operated in 213 cities.

One-Year Price Performance

While the shares of LI and XPEV gained 44.9% and 58.7%, respectively, NIO lost 46.3% over the past year.

Zacks Rank & Key Picks

LI currently sports a Zacks Rank #1 (Strong Buy), while XPEV and NIO carry a Zacks Rank #3 (Hold) and a Zacks Rank #4 (Sell), respectively.

You can see the complete list of today’s Zacks #1 Rank stocks here.

Ford F is another top-ranked player, carrying the same rank as Li.

The Zacks Consensus Estimate for F’s 2023 sales and earnings implies year-over-year growth of 7.5% and 12.2%, respectively. The EPS estimates for 2023 and 2024 have moved north by 6 cents and 8 cents, respectively, in the past 60 days.

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