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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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
POSITIVE IMPACT
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