NIO Inc. NIO, XPeng Inc. XPEV and Li Auto LI, the three smart electric vehicle (EV) companies in China, recently posted their respective delivery results for September and the third quarter of 2024.
NIO’s deliveries rose 35.4% year over year to 21,181 vehicles in September 2024. The deliveries include 20,349 units of the premium smart EV brand NIO and 832 units of the family-oriented smart EV brand ONVO. In the third quarter of 2024, the company delivered 61,855 vehicles, rising 11.6% year over year and setting a new quarterly record. As of Sept. 30, 2024, NIO’s cumulative deliveries reached 598,875 units. NIO launched the first model of ONVO, the L60, a mid-size family smart electric SUV on Sept. 19, 2024. The company started shipping L60 in late September 2024.
XPeng set a new monthly delivery record of 21,352 units in September 2024, which rose 39% year over year and 50% from the prior month. XPeng MONA M03’s first month deliveries exceeded 10,000 units. In the third quarter of 2024, XPEV delivered 46,533 units, up 6% year over year. In the first nine months of 2024, XPEV deliveries rose 21% year over year to 98,561 units.
On Sept. 25, 2024, XPeng launched its AI Tianji XOS 5.3 to all eligible owners in China, bringing 32 feature updates and 38 functional improvements. Following successful launch events in Madrid and Lisbon in September, XPeng officially introduced the G9, G6 and P7 models to the Spanish and Portuguese markets.
In September 2024, LI delivered 53,709 vehicles, marking a 48.9% increase year over year. In the third quarter of 2024, Li delivered 152,831 units, reflecting a rise of 45.4% year over year. In the first nine months of 2024, the automaker delivered 341,812 vehicles, with cumulative deliveries reaching 975,176 units. As of Sept. 30, 2024, the new energy automaker had 479 retail stores in 145 cities, 436 servicing centers and Li Auto-authorized body and paint shops in 221 cities and 894 supercharging stations with 4,286 charging stalls in China.
NIO, XPEV and LI’s Price Performance
Shares of NIO, XPEV and LI have plunged 18.4%, 26.3% and 17.4%, respectively, over the past year.
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NIO, XPeng and Li Auto’s Zacks Rank
NIO, XPEV and LI carry a Zacks Rank #3 (Hold) each at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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