NIO, XPeng Report Impressive Delivery Numbers

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April deliveries from Chinese electric vehicle makers

NIO

and

XPeng

provide buyers some purpose for hope and a few purpose for concern.

The pair reported April supply figures over the weekend. NIO (ticker: NIO), for its half, reported it delivered 7,102 vehicles, up 125% yr over yr. The year-over-year change, nevertheless, doesn’t matter. NIO is a high-growth firm and has been including capability quickly. Deliveries have been at about the identical stage as current months. NIO delivered 7,257 vehicles in March.

Current manufacturing capability is about 7,500 autos a month, however manufacturing hasn’t been in a position to hit that stage due to the worldwide semiconductor shortage roiling the automotive business.

The 7,100 determine places NIO on observe to hit is second quarter supply steerage of roughly 21,000 autos given this previous week when the corporate reported stronger than anticipated first-quarter numbers. That’s a optimistic. Still, administration mentioned on their earnings convention name that the chip scarcity was anticipated to get worse in May, leaving buyers some lingering concern over how deliveries will develop within the ultimate two months of the quarter.

XPeng (XPEV) reported deliveries of 5,147 vehicles in April. That, like these of NIO, is a large year-over-year enhance. XPeng delivered 5,102 vehicles in March, however month-to-month deliveries are flat whereas the semiconductor scarcity persists.

XPeng hasn’t reported first quarter numbers but. It’s slated to take action on May 13. There isn’t any second quarter supply steerage for buyers to weigh. The firm’s information launch included a rundown of current bulletins together with using lidar sensors to boost autonomous driving options and new battery chemistries that can assist reduce vehicle cost. But it didn’t point out the chip scarcity.

Going into Monday buying and selling, the information is probably going ok for each shares. There isn’t any detrimental shock hidden in both press launch.

Shares of each corporations have had a roughly journey to this point in 2020. High valuation, new EV competitors in China and the chip scarcity have all conspired to hurt investor sentiment. XPeng shares are down about 30% this yr, far worse than comparable features of the

S&P 500

and

Dow Jones Industrial Average.

NIO inventory is down about 18% this yr.