Chinese EV majors NIO (NIO), XPeng (XPEV), and Li Auto (LI) announced their delivery numbers for November. Li Auto reported impressive delivery numbers in November, jumping 172.9% year-over-year to 41,030.
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For NIO, the company delivered 15,959 vehicles in November, increasing by 12.6% year-over-year. This consisted of 10,545 premium smart electric SUVs and 5,414 premium electric sedans. NIO delivered 431,582 vehicles on a cumulative basis.
Year-to-date, the company’s vehicle deliveries jumped by 33.1% year-over-year to 142,026 vehicles.
Is NIO a Buy?
Analysts remain bullish about NIO stock with a Strong Buy consensus rating based on four Buys and one Hold. Year-to-date, NIO stock has slid by more than 20%, and the average NIO price target of $14.38 implies an upside potential of 97.8% at current levels.
XPeng Reports Impressive Vehicle Delivery Figures
In November, XPENG delivered 20,041 vehicles, an impressive surge of 245% year-over-year, and surpassed monthly deliveries of 20,000 for the second straight month. Its vehicle deliveries for its electric SUV G6 reached 8,750 units, and it remained the top-selling electric SUV model in the RMB200,000 to RMB250,000 price range.
The company’s vehicle deliveries have gone up month-over-month for the past 10 consecutive months, reaching a year-to-date total of 121,486 units and surpassing total deliveries for last year.
What is the Future Price of XPeng?
Analysts remain cautiously optimistic about XPeng stock with a Moderate Buy consensus rating based on five Buys, one Hold, and one Sell. Even as XPEV stock has increased by 60% year-to-date, the average XPEV price target of $18.65 implies an upside potential of 12.3% at current levels.
