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Indebta > Investing > Nio’s stock rises toward 5-day win streak as Q3 deliveries jump 75%
Investing

Nio’s stock rises toward 5-day win streak as Q3 deliveries jump 75%

News Room
Last updated: 2023/10/02 at 7:02 AM
By News Room
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Shares of Nio Inc. rose Monday toward a fifth-straight gain, after the China-based electric-vehicle maker reported a big jump in deliveries for both September and the third quarter, amid the launch of its new EC6 coupe SUV.

Fellow EV makers Li Auto Inc.
LI,
+3.24%
and XPeng Inc.
XPEV,
+6.62%
also reported big increases in deliveries.

Nio’s stock
NIO,
+1.46%
rose 0.8% in premarket trading. It has climbed 10% over the past four sessions, after closing at a 3 1/2-month low on Sept. 25.

The company said over the weekend that it delivered 15,641 vehicles in September, up 43.8% from a year ago. The deliveries included 11,504 smart electric sport-utility vehicles and 4,137 sedans.

For the third quarter, the 55,432 EVs delivered were 75.4% more than last year.

The company said deliveries of the EC6 smart electric coupe SUV started on Sept. 15.

Nio’s stock has lost 6.7% over the past three months through Friday, while the iShares MSCI China ETF
MCHI
has declined 3.2% and the S&P 500 index
SPX
has slipped 3.7%.

Also over the weekend, Li Auto said it delivered a monthly record 36,060 vehicles in September, representing a 212.7% increase from the same month a year ago. For the third quarter, deliveries were up nearly four-fold (up 296.3%) from a year ago to 105,108 vehicles.

The company said it also became China’s first new-energy automaker to reach the delivery milestone of 500,000.

The stock rallied 1.7% ahead of Monday’s open.

Xpeng’s stock advanced 0.9% toward a fourth-straight gain, after the EV maker said it delivered 15,310 vehicles in September, up 81% from a year ago. For the third quarter, deliveries hiked up 72% to 40,008 EVs, as production capacity of the G6 model “expanded significantly.”

Separately, BYD Co.
BYDDY,
+1.73%

002594,
-0.48%
reported Monday deliveries of 144,179 battery-electric vehicles in September, up 50% from a year ago, while plug-in hybrid vehicle deliveries increased 30% to 135,118.

Li Auto’s stock has gained 1.6% over the past three months, while XPeng shares have soared 36.8% and Boyd’s U.S.-listed stock has given up 3.5%.

Read the full article here

News Room October 2, 2023 October 2, 2023
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