Chinese EV Trio Nio, XPeng, Li Auto Surge Higher In Tuesday's Premarket: What's Going On
Portfolio Pulse from Shanthi Rexaline
Chinese EV companies Nio, XPeng, and Li Auto saw a premarket surge due to strong delivery numbers for September and Q3. Nio and XPeng are expanding into the mass market, while Li Auto continues to perform well. Tesla's upcoming delivery report is also anticipated.
October 01, 2024 | 11:33 am
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NEUTRAL IMPACT
Tesla's upcoming delivery report is anticipated, with analysts expecting 465,000 units for Q3, driven by strong performance in China.
While Tesla's report is yet to be released, the strong performance of Chinese EV makers could indicate positive trends for Tesla's China sales.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Li Auto's stock increased 3.70% premarket following a 48.9% YoY rise in September deliveries, surpassing Q3 guidance.
Li Auto's strong delivery numbers and exceeding Q3 guidance indicate robust demand and operational efficiency.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Nio's stock rose 4.49% in premarket trading due to strong September and Q3 delivery numbers, and its expansion into the mass market with the Onvo brand.
Nio reported a 35.4% YoY increase in September deliveries and exceeded Q3 guidance. The launch of its mass market Onvo brand is a strategic move to capture more market share.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
XPeng's stock rallied 3.69% premarket due to a 39% YoY increase in September deliveries and successful launch of the affordable XPeng Mona M03.
XPeng's deliveries increased significantly, and the Mona M03's success in the mass market supports future growth prospects.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100