Oct. 4, 2022, 7:58 a.m. EDT

Chinese EV maker Nio’s stock resumes selloff, even as quarterly deliveries rise to a record

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By Tomi Kilgore

Shares of Nio Inc. resumed its recent selloff toward a more than four-month low on Monday, reversing an earlier intraday gain, after the China-based electric-vehicle maker reported an uptick in September deliveries, enough to lift deliveries for the past three months to a quarterly record.

Nio /zigman2/quotes/204905836/composite NIO -4.95% reported over the weekend that it delivered 10,878 EVs in September, up 2.4% from the 10,628 EVs delivered in the same month a year ago. The deliveries consisted of 7,729 premium sport-utility vehicles and 3,149 premium sedans, Nio said.

For the third quarter, the company delivered 31,607 vehicles, up 29.3% from a year earlier.

Nio’s stock dropped 1.7% in afternoon trading, toward the lowest close since May 25. After bouncing 1.2% on Friday, the stock rose as much as 1.1% soon after Monday’s opening bell before reversing course.

Separately, shares of rival China-based EV maker XPeng Inc. /zigman2/quotes/219982686/composite XPEV -5.95% slumped 1.6%, after the company reported September deliveries of 8,468 EVs, down 18.7% from the 10,412 EVs delivered in September 2021.

For the third quarter, deliveries rose 15.2% to 29,570 EVs, as year-to-date deliveries totaled 98,553 EVs to surpass the total EVs delivered in the 2021 calendar year.

And Li Auto Inc.’s stock /zigman2/quotes/219811686/composite LI -2.21% hiked up 2.3%, after the fellow China-based EV maker said September deliveries rose 62.5% from last year to 11,531 vehicles, to lift third-quarter deliveries by 5.6% to 26,524 vehicles.

The third-quarter total was above guidance provided last week , when Li cut its guidance to 25,500 from between 27,000 and 29,000, citing supply-chain constraints.

Over the past three months, shares of Nio have dropped 27.4%, while XPeng’s stock has tumbled 61.2% and Li Auto shares have slumped 37.6%, as the iShares China Large-Cap exchange-traded fund /zigman2/quotes/208670743/composite FXI -2.14% has lost 23.4% and the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.19% has declined 3.9%.

/zigman2/quotes/204905836/composite
US : U.S.: NYSE
$ 12.59
-0.65 -4.95%
Volume: 50.61M
Dec. 7, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$22.30 billion
Rev. per Employee
N/A
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/zigman2/quotes/219982686/composite
US : U.S.: NYSE
$ 11.00
-0.70 -5.95%
Volume: 33.99M
Dec. 7, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$10.20 billion
Rev. per Employee
$331,427
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/zigman2/quotes/219811686/composite
US : U.S.: Nasdaq
$ 22.59
-0.51 -2.21%
Volume: 10.02M
Dec. 7, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$22.38 billion
Rev. per Employee
$478,092
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/zigman2/quotes/208670743/composite
US : U.S.: NYSE Arca
$ 28.19
-0.62 -2.14%
Volume: 40.62M
Dec. 7, 2022 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,933.92
-7.34 -0.19%
Volume: 0.00
Dec. 7, 2022 4:14p
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