Nio, Li Auto, Xpeng Stocks In Focus After China EV Makers Set Monthly Record Deliveries In November
By Stocktwits Inc | First Published Dec 2, 2024, 8:10 PM ISTTogether, the three companies sold 100,210 vehicles in November, reportedly the highest-ever monthly total.
U.S.-listed shares of Chinese electric vehicle makers Nio, Inc. ($NIO), Li Auto Inc. ($LI), and XPeng Inc. ($XPEV) garnered some investor attention early Monday after reporting record monthly deliveries in November.
The updates also led to a shift in retail sentiment across Stocktwits for two tickers.
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Nio reported 20,575 deliveries for November, reflecting an annual increase of about 29%.
Li Auto posted 48,740 deliveries, up approximately 19% from a year ago, while XPeng delivered 30,895 vehicles, marking a significant jump of about 54% year-over-year.
Together, the three companies sold 100,210 vehicles in November, reportedly the highest-ever monthly total.
For December, guidance from their third-quarter earnings calls points to another record month.
Nio expects to deliver approximately 32,000 cars in December, up about 77% year-over-year.
Li Auto is targeting 65,000 December deliveries, representing a 29% annual increase.
XPeng’s guidance suggests about 34,000 units for the month.
On Stocktwits, Nio’s retail sentiment shifted from ‘neutral’ a day ago to ‘bullish’, while sentiment for Li Auto improved to ‘neutral’ from ‘bearish’.
Sentiment for XPeng remained ‘neutral’, but several discussions about its November performance were optimistic.
Recent price targets and ratings show mixed analyst perspectives on the stocks.
Nio faced price target cuts after its third-quarter earnings were described as a “mixed bag” by one analyst, because even as its vehicle margin exceeded expectations, higher expenses from new products and channel expansion, along with non-operating losses, weighed on its results.
In contrast, Barclays recently raised its price target for Li Auto to $31 from $22, maintaining an ‘Equal Weight’ rating and citing the company’s strong vehicle gross margins of 19.5% as evidence of pricing power and product competitiveness.
Some XPeng analysts remain cautious about the competitive EV landscape heading into 2025, especially in the historically challenging first quarter when price cuts tend to intensify.
Year-to-date, Nio’s stock has declined more than 45%, while Li Auto has dropped over 35%. XPeng has outperformed its peers but is still down about 15% for the year.
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