China EV brands report 4Q delivery surge
Chinese electric vehicle brands reported 4Q delivery results this week.
XPeng (NYSE:XPEV) delivered 20,115 vehicles in December, showing no change compared to the previous month but marking a significant 78% increase from the same period last year. Their fourth-quarter 2023 deliveries reached 60.2k vehicles, aligning with the lower end of the 59.5k to 63.5k guidance range. Throughout 2023, XPeng saw a 17% YoY growth, totaling 141.6k deliveries.
During the same period, Nio Inc.(NYSE:NIO) achieved a delivery milestone of 18,012 vehicles, indicating a 13% increase from the previous month and a 14% rise compared to last year. This included 12,048 SUVs (comprising ES6, EC6, ES7, and EC7 models), showing a 14% MoM increase, and 5,964 sedans (ET5, ET5T, and ET7 models), marking a 10% MoM growth.
For the fourth quarter of 2023, NIO delivered 50k vehicles, surpassing their 4Q volume guidance range of 47k to 49k units. Overall, in 2023, NIO experienced a substantial 31% YoY growth in deliveries, totaling 160k vehicles.
Li Auto (NASDAQ:LI) reportedly delivered 50,353 vehicles, representing a 23% increase from the previous month and a substantial 137% surge compared to the same period last year.
For the fourth quarter of 2023, Li Auto exceeded its company guidance, delivering 131.8k vehicles against the expected range of 125k to 128k. The overall deliveries for 2023 witnessed an impressive 182% YoY growth, totaling 376,030 vehicles.
Leapmotor hit a new high last month, delivering 18,600 vehicles, up 119% YoY, and 11% compared to the previous month. 2023 sales were 144,000 units, up 30% YoY.
Shares of XPEV, NIO and LI are down 3.12%, 6.23% and 6.95% respectively in mid-day trading on Tuesday.
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