Xpeng mentioned deliveries of its newly launched G9 SUV surged in October from September, regardless of a drop within the model’s total month-to-month deliveries.
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BEIJING — Chinese language electrical automobile startup Xpeng delivered about half the variety of automobiles that rivals Nio and Li Auto did in October, in response to firm statements Tuesday.
Whereas the 2 different startups reported month-to-month deliveries of greater than 10,000 every, Xpeng mentioned it delivered simply 5,101 automobiles — a third-straight month of decline.
Xpeng shares fell by 3% in U.S. buying and selling in a single day. Nio’s rose by 0.4% and Li Auto shares jumped by 6.9%.
China’s electrical automobile market is extremely aggressive. Older automakers BYD and Tesla lead month-to-month deliveries by far, whereas new entrant Huawei claims its Aito model has topped the ten,000-a-month mark lower than a yr since launch.
Deliveries of Xpeng’s best-selling mannequin, the P7 sedan, halved from September to October, with simply over 2,100 models delivered final month. The corporate’s newly launched G9 SUV noticed deliveries surge from 184 models in September to 623 models in October.
Xpeng mentioned mass deliveries of the G9 started on Oct. 27. The corporate has mentioned it expects the brand new mannequin to turn into its best-selling automobile subsequent yr.
Nio
Nio, which has focused the next value vary for each SUVs and sedans, mentioned it delivered 10,059 automobiles in October. That marked a slight decline from September, however marked a fifth-straight month of deliveries that topped 10,000.
“Automobile manufacturing and supply had been constrained by operation challenges in our vegetation in addition to provide chain volatilities as a result of COVID-19 conditions in sure areas in China,” Nio mentioned in a press launch.
The corporate mentioned its October deliveries included automobiles offered in Europe, however not these provided underneath an area subscription program.
Li Auto
Li Auto delivered 10,052 automobiles in October. Since Might, the corporate has delivered greater than 10,000 automobiles each month, besides in August.
After having just one mannequin in the marketplace since 2019, Li Auto has launched three new fashions in the previous couple of months — the L9 which started deliveries in August, the L8 which is ready to start deliveries this month and the L7 which is ready to succeed in shoppers early subsequent yr.
In contrast to Xpeng and Nio, Li Auto’s automobiles should not purely electrical as they arrive with a gasoline tank to cost the battery and lengthen driving vary.
Among the many three corporations, Li Auto’s U.S.-listed shares have held up the most effective in a yr of broad market declines. The inventory is down by about 55% thus far this yr, whereas Nio shares have dropped by 69% and Xpeng is down by 87%.