Chinese Electric Vehicle Manufacturer
reported a new monthly record for deliveries. It is another sign that the demand for electric vehicles in China remains high.
XPeng (ticker: XPEV) delivered 8,040 vehicles in July, a 228% year-over-year increase and more than the 6,565 vehicles delivered in June. So far, XPeng has delivered nearly 39,000 vehicles in 2021.
Earlier Sunday, XPeng peer
(LI) reported its own new monthly record with 8,589 vehicle deliveries in July. Both results point to strong demand for electric vehicles in China and show that the worst of the global semiconductor shortage that limited auto production in 2021 is on the way.
For example, XPeng delivered just 2,223 vehicles in February and just 5,696 in May. Deliveries in June were a record – until July – and hitting more than 8,000 deliveries in a month is another strong data point for XPeng and the Chinese EV industry.
It’s a good number, but calling the stock reaction Monday is difficult, even with XPEng’s stock rising 1.1% in late trading on Sunday. XPeng stock opened higher on July 1 after reporting June numbers, but still closed 1.6% on the day.
XPeng Shares Are Down About 5% So Far, Behind the
‘s 17% increase and the
Dow Jones Industrial Average
Stocks have been on a wild ride lately. XPeng shares are up about 36% in the past three months as investor sentiment has improved along with vehicle deliveries. For example, Li shares are up 69% in the past three months.
(NIO) has lagged its competitors in the past three months with only 12% gains. NIO will report the deliveries in the coming days. It is the largest of the three companies by deliveries and by market capitalization. In June, it set a monthly record with 8,083 deliveries.
(TSLA) is also a major player in China’s EV market, but doesn’t report monthly sales by country, leaving analysts and investors waiting for industry data on manufacturing and vehicle registrations.
But strong Chinese deliveries from his peers usually bode well for Tesla, too.
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