{"id":16835,"date":"2023-06-01T14:56:13","date_gmt":"2023-06-01T18:56:13","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/may-ev-deliveries-rebound-in-china-thanks-to-li-auto-stocks-fall-anyway\/"},"modified":"2023-06-01T14:56:14","modified_gmt":"2023-06-01T18:56:14","slug":"may-ev-deliveries-rebound-in-china-thanks-to-li-auto-stocks-fall-anyway","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=16835","title":{"rendered":"May EV Deliveries Rebound in China, Thanks to Li Auto. Stocks Fall Anyway."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

Early EV delivery data from China for May show growth. That\u2019s what investors need and results from
\n NIO,<\/span><\/p>\n

XPeng
\n and
\n Li Auto
\n should be enough to keep stocks stable in Thursday trading. <\/p>\n

For May,
\n NIO
\n (ticker: NIO) delivered 6,155 all-electric vehicles.
\n XPeng
\n (XPEV) delivered 7,506 units.
\n Li Auto
\n (LI) blew those two out of the water, delivering 28,277 cars. It\u2019s the third consecutive month Li has topped 20,000. <\/p>\n

\n

Combined, the three delivered 41,938 units, up from 39,418 delivered in April and up about 46% with the 28,645 delivered in May 2022. <\/p>\n

Taken together, May numbers are fine. Investors should be happy with sequential and year over year growth. Overall, results are in line with expectations. In May, Li management said they expected to deliver about 78,500 vehicles in the second quarter. It\u2019s delivered 53,958 in April and May leaving roughly 25,000 units for June. Also in May, XPeng management said they expected to deliver about 21,500 units in the second quarter. XPeng has delivered 14,585 cars in April and May leaving about 7,000 for June to hit guidance. <\/p>\n

NIO hasn\u2019t reported first quarter numbers yet, so it hasn\u2019t given second quarter delivery guidance. NIO\u2019s numbers come next week. <\/p>\n

Numbers required in June for Li and XPeng to hit guidance seem reasonable and the stock\u2019s down, but stable, in premarket trading. Li shares are down 0.7%. XPeng stock is off 0.4%. NIO shares have dipped 2%.
\n S&P 500
\n and
\n Nasdaq Composite
\n futures are up 0.1% and 0.3%, respectively. <\/p>\n

Deliveries from the three EV players are an early read on Chinese EV demand. Year to date, the three have delivered about 183,000 units, up about 30% year over year. Growth in the world\u2019s largest market for new cars and new EVs is what investors expect. <\/p>\n

\n Tesla
\n (TSLA), of course, is the world\u2019s largest seller of EVs and a significant player in China. Its stock is down 0.7% in premarket trading. That\u2019s similar to the move in the Chinese EV stocks. <\/p>\n

As always there is more than one thing impacting
\n Tesla
\n stock. Reuters reported Wednesday that Tesla is discounting already-built cars on its website to move inventory. Investors don\u2019t like seeing Tesla prices coming down. <\/p>\n

And coming into Thursday trading, Tesla stock has gained about 12% over the past five trading days. The Nasdaq is up roughly 4% over that span. Tesla stock might be giving back some of that gain. <\/p>\n

Year to date, Tesla stock is up about 66%. Li stock is up about 42%. XPeng and NIO shares are down about 23% and 21%, respectively. Myriad factors ranging from deliveries to rising interest rates to the staring points for each stock are responsible for the relative gains. <\/p>\n

Write to Al Root at allen.root@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Early EV delivery data from China for May show growth. That\u2019s what investors need and results from NIO, XPeng and Li Auto should be enough to keep stocks stable in Thursday trading. For May, NIO (ticker: NIO) delivered 6,155 all-electric vehicles. XPeng (XPEV) delivered 7,506 units. Li Auto (LI) blew those two out of the […]<\/p>\n","protected":false},"author":1,"featured_media":16836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-16835","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nMay EV Deliveries Rebound in China, Thanks to Li Auto. Stocks Fall Anyway. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Early EV delivery data from China for May show growth. 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