Combined deliveries for NIO, XPeng, and Li Auto came in at almost 67,000 vehicles for September, the second-best month ever.
Early delivery results for September look solid. NIO , Li Auto , and XPeng delivered a combined 66,831 vehicles this past month, up 116% from the same time last year. It’s the second-best combined month ever. The trio delivered 68,203 in August.
Wall Street projects third-quarter sales of about $2.7%, up about 48% from last year. Price cuts are part of the reason for the difference between unit sales and revenue. EV makers in China, including Tesla , have been lowering prices to preserve market share and boost demand. Citi analyst Jeff Chung wrote recently that the average discount for EVs in China, off suggested retail prices, is about 3.5%, up from 2.5% a few months ago.
XPeng delivered 15,310 vehicles in September, up about 81% from one year ago. For the third quarter, XPeng delivered 40,278 units, up about 36% from last year. Wall Street expects third-quarter revenue to hit about $1.2 billion, up about 25% from the same time last year. The results are roughly in line with Wall Street expectations and illustrate that EV demand is still growing, even if prices are part of the reason.
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