Text size
A Nio eC6 car is seen during the 19th Shanghai International Automobile Industry Exhibition successful Shanghai connected April 19, 2021.
Hector Retamal/AFP/Getty ImagesChinese electrical conveyance shaper NIO reported steadfast delivery figures for July connected Tuesday morning. Unfortunately, NIO’s peers delivered much cars than it did, the archetypal clip that’s happened.
NIO (ticker: NIO) delivered 7,931 vehicles successful July, down a small from the 8,083 vehicles delivered in June. Ordinarily, deliveries successful the 8,000-range look good, but month-to-month declines are typically problematic for the stock.
NIO deliveries dropped from January to February, from March to April, and from April into May. The banal dropped each clip the sequential transportation drops were disclosed, falling astir 13%, 1%, and 2%, respectively.
That mightiness not beryllium the lawsuit this time. NIO shares person gained 0.7% successful aboriginal premarket trading Monday, portion S&P 500 and Dow Jones Industrial Average futures are up astir 0.5% and 0.4%, respectively. But shares of NIO peers Li Auto (LI) and XPeng (XPEV) are some up betwixt 4% and 5% connected their ain transportation numbers.
XPeng delivered 8.040 vehicles successful July, a caller monthly grounds and up from 6,565 vehicles delivered successful June. Li delivered 8,589 vehicles, a monthly grounds for Li too, up from 7,713 vehicles delivered successful June.
It’s the archetypal clip NIO hasn’t delivered the astir vehicles successful a month, among the three, since transportation numbers person go available, stretching backmost to May 2020.
In July, the 3 combined delivered astir 24,500 vehicles. That’s up astir 10% compared with June and up astir 190% implicit July 2020. Chinese EV request remains solid. The companies are, essentially, selling each the EVs they tin make.
NIO is inactive the largest, astir invaluable of the 3 peers, but its banal results person lagged recently. NIO banal is up 12% implicit the past 3 months. XPeng banal has added 36%. Li shares person added 69%.
Coming into Monday trading, NIO shares are down astir 8% truthful acold successful 2021. XPeng banal has fallen 5% twelvemonth to date. Li shares person added astir 16%.
Write to allen.root@dowjones.com
English (US) ·