Chinese EV majors, Li Auto (LI), NIO (NIO), and XPeng (XPEV) announced their deliveries for the month of January and except for LI, both NIO and XPEV saw a year-over-year decline in vehicle deliveries.
Li Auto saw its vehicle deliveries climb 23.4% year-over-year to 15,141 vehicles in January.
Xiang Li, Founder, Chairman, and CEO of Li Auto commented, “We ranked first in both China’s full-size and large SUV markets for the full year of 2022, thanks to the outstanding sales performance of all three models we have brought to the market: Li L9, Li L8, and Li ONE.”
By the end of January, Li had cumulative deliveries of 272,475 vehicles.
In contrast, XPEV saw its vehicle deliveries slide 60% year-over-year to 5,218, a month-over-month decline of 54%. This included deliveries of 2,249 vehicles of its flagship vehicle, the G9 SUVs. The company stated that the decline in vehicle deliveries was a result of seasonal slowdowns due to the holidays over the Chinese Lunar New Year period which began in the middle of January.
NIO did not fare any better and vehicle deliveries dropped 12% year-over-year to 8,506 units. NIO vehicle deliveries comprised 2,190 premium smart electric SUVs and 6,316 premium smart electric sedans.
Shares of LI, NIO, and XPEV have slid by 8.8%, 51.4%, and 70.7% respectively in the past year.