Xpeng electric car deliveries drop in October to half of Nio's

BEIJING — Chinese electrical car startup Xpeng delivered astir fractional the fig of cars that rivals Nio and Li Auto did successful October, according to institution statements Tuesday.

While the 2 different startups reported monthly deliveries of much than 10,000 each, Xpeng said it delivered conscionable 5,101 cars — a third-straight period of decline.

Xpeng shares fell by 3% successful U.S. trading overnight. Nio's roseate by 0.4% and Li Auto shares jumped by 6.9%.

China's electrical car marketplace is highly competitive. Older automakers BYD and Tesla pb monthly deliveries by far, portion caller entrant Huawei claims its Aito marque has topped the 10,000-a-month people little than a twelvemonth since launch.

Deliveries of Xpeng's best-selling model, the P7 sedan, halved from September to October, with conscionable implicit 2,100 units delivered past month. The company's newly launched G9 SUV saw deliveries surge from 184 units successful September to 623 units successful October.

Xpeng said wide deliveries of the G9 began connected Oct. 27. The institution has said it expects the caller exemplary to go its best-selling car adjacent year.

Nio, which has targeted a higher terms scope for some SUVs and sedans, said it delivered 10,059 vehicles successful October. That marked a flimsy diminution from September, but marked a fifth-straight period of deliveries that topped 10,000.

"Vehicle accumulation and transportation were constrained by cognition challenges successful our plants arsenic good arsenic proviso concatenation volatilities owed to the COVID-19 situations successful definite regions successful China," Nio said successful a property release.

The institution said its October deliveries included vehicles sold successful Europe, but not those offered nether a section subscription program.

After having lone 1 exemplary connected the marketplace since 2019, Li Auto has launched 3 caller models successful the past fewer months — the L9 which began deliveries successful August, the L8 which is acceptable to statesman deliveries this period and the L7 which is acceptable to scope consumers aboriginal adjacent year.

Unlike Xpeng and Nio, Li Auto's vehicles are not purely electrical arsenic they travel with a substance vessel to complaint the artillery and widen driving range.

Among the 3 companies, Li Auto's U.S.-listed shares person held up the champion successful a twelvemonth of wide marketplace declines. The banal is down by astir 55% truthful acold this year, portion Nio shares person dropped by 69% and Xpeng is down by 87%.