Warren Buffett-Backed BYD's Pure EV Sales Drop To Lowest In Five Months In July While Hybrid Vehicle Sales Surge 67%
Portfolio Pulse from Anan Ashraf
BYD Co Ltd reported a 31% increase in new energy passenger vehicle sales in July, despite a 4% drop in pure EV sales. The decline in BEV sales was offset by a 67% rise in hybrid vehicle sales. Li Auto, XPeng, and Nio also reported their July delivery numbers, with Li Auto leading the pack.
August 02, 2024 | 7:11 am
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BYD Co Ltd reported a 31% increase in new energy vehicle sales in July, despite a 4% drop in pure EV sales. Hybrid vehicle sales surged 67%, offsetting the decline in BEV sales.
The overall increase in new energy vehicle sales, driven by a significant rise in hybrid sales, is likely to positively impact BYD's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Li Auto delivered a record 51,000 vehicles in July, marking a 49.4% year-over-year increase, leading among Chinese EV startups.
Li Auto's record deliveries and significant year-over-year growth are likely to positively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Geely’s luxury EV brand Zeekr saw a 30% year-over-year increase in EV deliveries to 15,655 units in July.
Zeekr's significant year-over-year growth in EV deliveries is likely to positively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60
NEUTRAL IMPACT
Nio delivered 20,498 vehicles in July, including 11,964 SUVs and 8,534 sedans, marking a 0.2% year-over-year increase.
Nio's minimal year-over-year growth in deliveries is likely to have a neutral impact on its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
XPeng delivered 11,145 vehicles in July, marking a 1% year-over-year increase, but lagging behind Li Auto's growth.
XPeng's modest year-over-year growth in deliveries is likely to have a neutral impact on its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70