Starting China EV New (NIO) exceeded the speed XPeng Motors (XPEV) And the Lee Otto (LI) in August delivered electric vehicles, according to Thursday sales reports. While Nio sales in August increased modestly compared to July, XPeng and Li Auto saw a drop in deliveries after issuing conservative guidance earlier in the month.
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Meanwhile, EV giant and battery BYD (BYDDFYou should report your August sales within a day or two. BYD stock is being sold this week in the name of Warren Buffett Berkshire Hathaway (BRKB) announced the sale of a portion of its large property last week. BYD reported strong earnings earlier in the week.
Nio, Li Auto and XPeng stocks are also struggling.
August is somewhat of a transitional period for electric vehicles in China. Nio and Li Auto began delivering new models at the end of the month, with Nio and BYD set to begin delivering other new electric vehicles in September. XPeng will launch a new vehicle later this year.
New Stock
NIO shares were down 2% before the market opened Thursday. The stock rose 0.4% to 19.91 on Wednesday, just below the 50-day line. The stock is in the midst of consolidation with 24.53 official buying points, according to MarketSmith. However, in the current market environment should be very careful.
Nio announced Thursday that it delivered 10,677 vehicles in August, up 82% year over year. August sales included 7,551 SUVs and 3,126 sedans. Altogether, car sales in 2022 grew by 28% to 71,556 vehicles.
On August 28, Nio launched shipments of the ES7 SUV. Nio will begin deliveries of the ET5 sedan on September 30, following the ET7 luxury sedan in March. Nio, which will also update the ES8 SUV soon, will have five EVs with the ET5. The EV startup said Thursday that it delivered 398 ES7 SUVs in August.
Nio is ramping up its European presence, sending ET7 to several countries.
The company announced second-quarter earnings on September 7, before the market opened. Nio stock has a composite rating of 32. Its relative strength rating is 33. It has an EPS rating of 7.
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LI stock is down 2% in pre-market activity Thursday. Shares fell 0.1% to 28.77 on Wednesday, again hitting resistance at the 200-day line. Shares have fallen sharply from their June 24 high of 41.49, especially since mid-July.
Li Auto said Thursday that it delivered 4,571 vehicles for August, down 56% from July and 52% from a year earlier.
This follows disappointing guidance on August 15, as Li Auto expects to deliver 27,000 to 29,000 vehicles in the third quarter. That’s lower than the second quarter and despite 10,422 deliveries already reported in July.
The Li One Hybrid SUV, which was Li Auto’s only vehicle, experienced a sudden drop in demand. The automaker is blaming the cannibals of its more exclusive L9 hybrid SUV. Li began deliveries of the L9 on August 30, with the automaker expecting 10,000 L9 deliveries in September.
“We are delighted to begin the delivery of our flagship smart SUV, the Li L9, and to have heard from early Li L9 users that it has exceeded their expectations,” Yanan Shen, co-founder and president of Li Auto, said in a statement.
Shen added that the company is preparing to launch the Li L8, the L9 mini, in early November, with deliveries to begin in the same month.
Li Auto stock has 62 Compound classification out of 99. It has 76 relative strength rating. EPS rating is 26.
XPeng stock
XPEV shares were down more than 1% early Thursday morning. The stock rose 1.4 percent to 18.52 on Wednesday. XPeng stock has struggled in 2022, hitting a 22-month low on Tuesday, not far from its August 2020 IPO price.
XPeng reported Thursday that vehicle deliveries grew 33% year-over-year to 9,578 vehicles. That was down 17% compared to July.
XPeng delivered 5745 P7s, its sport sedan model, in August. It also delivered 2,678 P5 sedans with 1,155 G3i and G3 compact SUVs.
The flagship new G9 SUV should begin deliveries in the fourth quarter, and is likely to replace the old G3.
For the third quarter, XPeng expects to deliver between 29,000 and 31,000 vehicles, down from the second quarter. With deliveries in July, XPeng expects combined deliveries in August and September to be less than 20,000.
The XPEV stock has a poor composite rating of 11 out of 99. It has a rating of 9 for relative strength, which is also very poor. EPS rating is 2.
BYD stock
BYDDF stock fell 4.35% to 30.75 in shares Wednesday market trading, the lowest level since mid-May. Shares of the electric and battery car giant fell 7.8% on Tuesday, breaking below their 200-day moving average. Shares hit a record high of 43.61 on June 28.
The catalyst for BYD stock’s decline? Warren Buffett Berkshire Hathaway It said on August 30 that it sold 1.33 million shares of H stock on August 24 in Hong Kong, less than 1% of its large stake. Berkshire still owns just under 8% of BYD, but there are concerns that it will continue to sell shares.
BYD stock had already plummeted on July 12 due to rumors that Buffett would sell some or all of his stake long ago. Kathy Wood Ark Innovation ETF (see you) also owns a small stake in BYD, as well as shares of Nio and XPeng.
BYD announced Monday that it tripled its net income in the second quarter, easily surpassing the number of views. BYD previously said it sold 355,021 new energy vehicles (NEVs) in the second quarter, inflated by 256% year over year and 24% versus the first quarter. NEVs include all-electric vehicles, plug-in hybrid vehicles, and fuel cell vehicles.
Tesla (TSLA) Deliveries in the second quarter were recorded at 254,695, down nearly 18% from the first quarter. EV giant Elon Musk still leads BYD in all-electric vehicle sales, but that gap is narrowing.
On August 3, BYD announced record July sales of 162,350 electric and hybrid vehicles, up 222 percent from the previous year. As of August 28, BYD had sold more than 136,000 vehicles in China in August, according to data from the China Association of Automobile Manufacturers.
The automaker is introducing several new models of electric and hybrid cars only in the coming months. The Seal sedan is BYD’s first clear competitor to the Tesla Model 3. The car has roughly equal dimensions and range as the Model 3—and is $10,000 cheaper.
Deliveries are expected to begin in the next few days. BYD said pre-orders of the SEALs have exceeded 60,000 people since it opened May 20.
BYD has many other models that will be launched in the next few months. It is also entering Australia, several Asia-Pacific countries and Europe in the next few months. It will enter Japan in 2023.
BYD doesn’t have a profile Compound classification, which is a major criterion for inflammatory bowel disease. But it has a relative strength rating of 46, which is an exclusive rating IBD stock check A stock’s price movement measure above 99. The EPS rating is 82.
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