recorded a new monthly record for deliveries. This is another sign that the demand for electric vehicles in China remains high.
XPeng (ticker: XPEV) delivered 8,040 vehicles in July, up 228% year on year and up from 6,565 vehicles delivered in June. So far in 2021, XPeng has delivered nearly 39,000 vehicles.
Earlier Sunday, peer XPeng
(LI) posted its own new monthly record with 8,589 vehicle deliveries in July. Both results point to strong demand for electric vehicles in China and demonstrate that the worst of the global semiconductor shortage that limited auto production in 2021 is fading away.
XPeng, for example, delivered just 2,223 vehicles in February and only 5,696 in May. June deliveries were a record through July and reaching over 8,000 deliveries in one month is another strong data point for XPeng as well as the Chinese electric vehicle industry.
That’s a good number, but calling equities reaction on Monday is difficult, even with XPEng stock up 1.1% late in trading on Sunday. XPeng stock opened higher on July 1 after releasing June figures, but still closed 1.6% lower that day.
XPeng’s stock is down about 5% year-to-date, behind the
s 17% increase and the
Dow Jones Industrial Average
The stocks have been racing these days. XPeng stock has risen around 36% in the past three months, as investor sentiment has improved alongside vehicle deliveries. Li stock, for example, has risen 69% in the past three months.
(NIO) has fallen behind its peers over the past three months with just a 12% gain. NIO will report on deliveries over the next few days. It is the largest of the three companies in terms of shipments and market capitalization. It set a monthly record in June with 8,083 deliveries.
(TSLA) is also a big player in China’s electric vehicle market, but it doesn’t report monthly sales by country, leaving analysts and investors to wait for industry data on car production and registrations.
But strong Chinese shipments from its peers generally bode well for Tesla, too.
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