October gross sales Chinese language EV makers gloomy, possible extra hope coming months

In keeping with cnevpost.com, Deutsche Financial institution analyst Edison Yu’s workforce factors out that high Chinese language EV firms noticed flattened gross sales curve in October, contains NIO (NIO), Xpeng Motors (XPEV), Li AUto (LI) amongst others.

Electrical automobile gross sales remained weak in October, possible as a result of lowered shopper sentiment, mannequin transitions, manufacturing struggles and Covid restrictions. Nonetheless, higher gross sales figures are anticipated in November and December. Gross sales also needs to broadly profit from new power automobile (or NEV) subsidies that expire on the finish of the 12 months.

NIO noticed a significant affect from Hefei’s lock-downs, hurting the ET5 ramp whereas Li Auto reported higher than feared gross sales pushed by its large late month push.

Digging in October gross sales figures: NIO delivered 10,059 models (-8% M/M and +174percentY/Y); Li Auto delivered 10,052 models (-13% M/M, +31% Y/Y); XPeng delivered 5,101 models (-40% M/M; -50% Y/Y)

Get extra insights: ‘Tesla is sliding however Chinese language electrical automobile shares try comeback bids’ and ‘Buyers bid up choose electrical automobile shares in hunt for oversold names’

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