Xpeng reported deliveries of its freshly introduced G9 SUV surged in October from September, even with a drop in the brand’s general month-to-month deliveries.
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BEIJING — Chinese electric powered motor vehicle startup xpeng sent about half the selection of cars that rivals Nioz and Li Car did in Oct, according to company statements Tuesday.
While the two other startups reported monthly deliveries of additional than 10,000 each individual, Xpeng claimed it delivered just 5,101 vehicles — a 3rd-straight month of decrease.
Xpeng shares fell by 3% in US buying and selling overnight. Nio’s rose by .4% and Li Auto shares jumped by 6.9%.
China’s electric car or truck sector is highly competitive. Older automakers BYD and Tesla guide month to month deliveries by considerably, whilst new entrant Huawei promises its Aito model has topped the 10,000-a-thirty day period mark a lot less than a 12 months because start.
Deliveries of Xpeng’s greatest-promoting design, the P7 sedan, halved from September to October, with just about 2,100 models shipped very last thirty day period. The company’s newly launched G9 SUV saw deliveries surge from 184 units in September to 623 units in Oct.
Xpeng mentioned mass deliveries of the G9 began on Oct. 27. The enterprise has explained it expects the new design to grow to be its very best-marketing car future yr.
Nio, which has specific a larger price range for both equally SUVs and sedans, stated it sent 10,059 vehicles in Oct. That marked a slight decline from September, but marked a fifth-straight thirty day period of deliveries that topped 10,000.
“Motor vehicle creation and shipping ended up constrained by operation difficulties in our vegetation as effectively as provide chain volatilities because of to the COVID-19 cases in specified areas in China,” Nio said in a press release.
The firm claimed its Oct deliveries provided vehicles offered in Europe, but not those people available beneath a neighborhood subscription software.
Li Vehicle shipped 10,052 autos in Oct. Given that Might, the corporation has delivered extra than 10,000 vehicles each individual thirty day period, except in August.
Right after acquiring only one model on the industry since 2019, Li Vehicle has released a few new types in the previous number of months — the L9 which commenced deliveries in August, the L8 which is established to start out deliveries this month and the L7 which is established to reach individuals early upcoming calendar year.
Contrary to Xpeng and Nio, Li Auto’s autos are not purely electric as they come with a gasoline tank to cost the battery and lengthen driving assortment.
Between the a few corporations, Li Auto’s US-mentioned shares have held up the best in a year of broad market declines. The inventory is down by about 55% so considerably this yr, even though Nio shares have dropped by 69% and Xpeng is down by 87%.
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