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Xpeng, NIO and Li Auto sales up in April

4 May 2021
2 min.
Xpeng, NIO and Li Auto sales up in April

Chinese electric car sales in April

Chinese electric car makers Nio, Xpeng and Li Auto reported strong sales in April, but the growth rate was significantly lower than in March. Nio management points to a chip shortage that will hold back sales growth in the second quarter.

Shares in Chinese electric car makers Nio (NIO), Xpeng (XPEV) and Li Auto (LI) fell on Monday as investors received confirmation of slower growth in their sales amid intensifying competition in China and semiconductor shortage issues.

Strong growth throughout the second half of 2020 was replaced by a drop in these stocks last December.

The fall in shares of Chinese electric car makers since the start of 2021 and on Monday was:

  • for Nio: -18.9% and 0.75% respectively;
  • Xpeng shares fell 32.2% and almost 3% respectively;
  • Li Auto shares down 32.6% and 1.5% respectively.

While carmaker sales in April were up strongly compared to last year's value, they were up rather slightly compared to March.

Nio, which had to shut down its plant for five days from 29 March due to a shortage of semiconductors, reported that its sales in April jumped 125% year-on-year to 5,147 electric cars.

However, this is below Nio's pace of 373% in March, when Nio delivered 7,257 of its SUVs.

Last week, Nio management warned that deliveries in the second quarter would be about the same as in the first quarter due to a lack of chips.

Xpeng Motors delivered 285% more electric vehicles in April 2021 than last year, namely 5,147 units, including: 2,995 P7 sedans and 2,152 G3 compact SUVs. However, this growth is also lower compared to Xpeng's March growth rate of 384% to 5,102 units delivered.

Li Auto's April sales rose 111% to 5,539 hybrid electric SUVs, down from March's 239% pace but 13% higher than the March deliveries themselves.

Li Auto said it reached the milestone of 500,000 delivery units faster than any of its peers.

Analysts point to intensifying competition in the Chinese electric car market, making it difficult for domestic manufacturers to grow deliveries. US-based Tesla (TSLA) is ramping up deliveries of the Model Y SUV from its Shanghai plant, with rising prices suggesting that the company is "happy" with sales.

Companies4 in the news

Li Auto
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