Published - September 1st, 2023 @ 4:05 PM (GMT+2)
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Tesla's Chinese counterparts—Li Auto, Nio, and XPeng—posted excellent delivery statistics for August. Li Auto (NASDAQ:LI) broke previous records, XPeng (NYSE:XPEV) saw its best monthly performance since June 2022, and Nio (NYSE:NIO) nearly set a new record of its own.

Li Auto Sets New Sales Record:
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Li Auto achieved a modest month-over-month increase of 2.3%, delivering 34,914 vehicles in August. This outperforms its last record of 34,134 deliveries in July and represents an incredible 664% boost compared to last year—each of the company's three hybrid SUVs sold over 10,000 units. Li Auto appears well-positioned to meet or exceed its goals with a Q3 delivery guidance set between 100,000 and 103,000 vehicles.

Analysts Divided on Nio's Performance:
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Nio saw 19,329 vehicle deliveries for August, marking a 5.5% decrease from the previous month and an 81% year-over-year spike. Although the company forecasts Q3 deliveries to fall between 55,000 and 57,000 electric vehicles, some market analysts find this projection uninspiring. These analysts suggest that Nio's upcoming launches, including a redesigned version of its top-selling electric SUV ES6, could fuel deliveries in the second half 2023.
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XPeng Marks Seventh Month of Growth:
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XPeng announced 13,690 vehicle deliveries for August, the highest monthly figure since June 2022, representing a 43% year-over-year increase. Sequentially, the company saw a 24.4% uptick compared to July, marking the seventh month of consistent growth. The firm's Q3 guidance estimates deliveries to range between 39,000 and 41,000 electric vehicles, and given the current pace, it is likely to hit the upper limit.
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Steady Growth in China's NEV Market:
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According to the China Passenger Car Association, retail sales of new energy vehicles (NEVs) in China totaled 538,000 units by August 27, a 2% increase month-over-month. CnEVPost.com also reported that year-to-date retail sales for NEVs, including hybrids, have reached 4.265 million, signaling a 35% year-over-year growth.

Pre-Market Stock Movement Indicates Confidence:
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Shares of Li Auto, XPeng, and Nio increased by 2.33%, 3.26%, and 2.34%, respectively, during pre-market trading on Friday. This underscores the market's optimistic view of these emerging electric vehicle manufacturers.
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