XPeng, Li, NIO EV Deliveries Set A Record. XPeng, NIO Stocks Are Down.

Li delivered 41,030 units, a record, and up from 15,034 in November 2022.
XPeng
‘s November deliveries also set a record at 20,041 units, up from 5,811 delivered in November 2022.
NIO
 delivered 15,959 units. That wasn’t a monthly record, but it was up 14,178 from November 2022.

All three EV makers delivered more EVs month over month and together the three delivered 77,030 units in November, a monthly record for combined sales, and up roughly 120% year over year. Year to date, the three EV makers have delivered 589,279 units, up about 80% year over year.

Good deliveries don’t always translate into big stock moves. XPeng stock was down about 1.1% in premarket trading. NIO shares were down about 0.6%. Li stock managed to rise, up about 1.4%

S&P 500
and
Nasdaq Composite
futures were both close to flat.

One reason for small moves is stocks are starting points. Coming into Friday trading, XPeng stock was up about 67% over the past 12 months. Li shares were up about 73%. NIO shares haven’t been as strong, down 40% over the past 12 months.

Tesla
stock was down 1.3% in premarket trading. Deliveries from competitors aren’t the reason. Tesla started delivering its Cybertruck on Thursday and investors bid shares up a few percent ahead of the event.

Tesla doesn’t report monthly deliveries. Investors will get Chinese sales from industry associations in a few days. Through October, Tesla delivered about 462,000 units in China, up about 38% year over year.

BYD shares are down 1.9% in overseas trading. It will report monthly deliveries soon. Through October, it delivered almost 1.2 million battery-electric vehicles. Most of those were sold in China.

Tesla, globally, delivered 1.3 million battery electric vehicles in the first three quarters of 2023.

Write to Al Root at [email protected]