This week in EVs: Chinese brands deliver in 4Q | Pro Recap
Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Chinese brands release 4Q delivery results; GM to cover lost tax credits; and Fisker’s deal with dealerships.
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Chinese electric vehicle brands released their 4Q delivery figures this week.
Xpeng Inc (NYSE:XPEV) maintained a steady pace in December, delivering 20,115 vehicles, showing no change from the previous month but marking an impressive 78% surge from the same period last year. Throughout the 4Q of 2023, XPeng reached 60.2k vehicle deliveries, aligning with the lower end of their projected range of 59.5k to 63.5k. Their annual performance for 2023 reflected a solid 17% YoY growth, totaling 141.6k deliveries.
At the same time, Nio (NYSE:NIO) achieved a milestone of 18,012 vehicle deliveries during the same period, signifying a 13% increase from the prior month and a 14% rise from last year. This comprised 12,048 SUVs (ES6, EC6, ES7, and EC7 models), exhibiting a 14% MoM increase, and 5,964 sedans (ET5, ET5T, and ET7 models), displaying a 10% MoM growth.
NIO outperformed its 4Q 2023 volume guidance, delivering 50k vehicles against the anticipated range of 47k to 49k units. Overall, NIO experienced substantial growth of 31% YoY in deliveries for 2023, totaling 160k vehicles.
Li Auto Inc (NASDAQ:LI) reported the delivery of 50,353 vehicles, marking a notable 23% increase from the previous month and a substantial 137% surge compared to the same period last year. For the 4Q of 2023, Li Auto exceeded its projected delivery range, achieving 131.8k vehicles compared to the expected range of 125k to 128k. The overall deliveries for 2023 showcased an impressive 182%
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