The three major China-based smart electric vehicle (EV) companies, NIO Inc. NIO, Li Auto LI and XPeng Inc. XPEV, recently announced their respective delivery updates for June and second-quarter 2022.
NIO delivered 12,961 vehicles in June 2022, marking an increase of 60.3% year over year. The deliveries consisted of 1,684 ES8s, 5,100 ES6s, 1,828 EC6s, and 4,349 ET7s. In the second quarter of 2022, 25,059 vehicles were delivered, which increased 14.4% year over year. Cumulative deliveries of 217,897 vehicles were recorded as of Jun 30, 2022.
In June, NIO launched the ES7, a new mid-large five-seater, smart electric SUV. The vehicle is the first SUV to be based on NIO Technology 2.0 (NT2.0), the latest technology platform of the company. NIO also introduced the 2022 ES8, ES6 and EC6, containing the upgraded digital cockpit domain controller and sensing suite, which enhances the computing and perception capacity as well as the digital experience of the vehicles. Deliveries of the four models are expected to begin in August 2022.
NIO currently carries a Zacks Rank #3 (Hold).
XPeng recorded monthly deliveries of 15,295 Smart EVs in June, up 133% year over year. Deliveries covered 8,045 P7s, XPeng’s smart sports sedan. It also covered 5,598 P5 smart family sedans and 1,652 G3i and G3 smart compact SUVs. It delivered 34,422 Smart EVs in total in the second quarter, topping the list of emerging auto brands in China for the fourth consecutive quarter.
As of Jun 30, 2022, year-to-date total deliveries were 68,983 units, a whopping 124% increase year over year. From mid-May, XPeng increased deliveries by resuming double-shift production at its Zhaoqing plant. Last month, XPEV reached the milestone of 200,000 cumulative deliveries.
XPeng intends to start accepting pre-orders for its new flagship G9 SUV in August, followed by an official launch in September. It also plans to release its new City Navigation Guided Pilot after receiving relevant approvals.
XPEV currently carries a Zacks Rank of 3.
Li Auto saw deliveries of 13,024 Li ONEs in June 2022, up 68.9% year over year. With this, the company’s second-quarter deliveries were 28,687, representing a 63.2% year-over-year increase. The cumulative deliveries of Li ONE total 184,491 since the vehicle made its debut in 2019.
Li Auto also officially unveiled Li L9, the flagship smart SUV for families, in June. The vehicle is a six-seat, full-size flagship SUV, offering ample space and comfort for family users. It also boasts the company’s self-developed autonomous driving system, Li AD Max, and premium vehicle safety measures to protect every family passenger. The vehicle has a retail price of RMB459,800.
Since its launch, it has received more than 30,000 orders, each with a basic refundable deposit of RMB5,000. Deliveries will be initiated by the end of August.
LI currently carries a Zacks Rank #3.
A better-ranked player in the auto space is Standard Motor Products SMP, carrying a Zacks Rank #2 (Buy), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Standard Motor has an expected earnings growth rate of 5.2% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.
Standard Motor’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. SMP pulled off a trailing four-quarter earnings surprise of 40.34%, on average. The stock has inched up 4.4% over the past year.
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