XPeng and electric car deliveries
Shares in XPeng (XPEV), the Chinese electric car maker, rose on a report of a new record monthly delivery. Data for September suggest that the company is successfully coping with chip shortages amid rising demand in China.
Shares of XPeng (XPEV) rose 2.87% on Thursday after the company reported good data on deliveries of its electric cars to customers for September and the third quarter of 2021.
Shares in the Chinese electric car maker have fallen 17% since the start of 2021, following a sharp rise at the end of 2020. XPeng shares were negatively impacted by reports of a global semiconductor shortage, pressure from Chinese authorities on technology companies and a general decline in technology sector stocks in the US stock market over the past month.
XPeng report
XPeng the reports to break out the 10,412 vehicles sold delivered in September up 199% year-on-year, 44% year-on-year. The Company achieved a quarterly record in the third quarter of 2021, with 25,666 deliveries, up 48% quarter-on-quarter and 199% year-on-year. On 15 September, 7,512 P7 sport sedans, 2,656 G3 and G3i SUVs and 244 P5 family sedans were launched. The latest deliveries as of September 30, 2021, totaled 56,404 vehicles, an increase of 301% from a year earlier. September P7 deliveries were the highest monthly total since launch, adding 39,227 units to the company's total deliveries between January and September 2021.
XPeng has thus managed to steadily increase its production and shipments despite the global chip shortage and other negative factors.
This is good news for investors in this Chinese start-up and overall suggests that demand for electric vehicles in China remains strong and that the companies can successfully cope with the global chip shortage.
Shares in Xpeng's Chinese rivals Nio (NIO) and Li Auto (LI), which also suffered significant losses last quarter, rose 1.4% and 2.2% respectively on Thursday. Shares of Tesla (TSLA), up 14.4% in the last quarter, were down 0.75% on Thursday.
