From Investor’s Business Daily: 2024-03-30 14:17:00

China’s EV makers Nio, Li Auto, and XPeng are set to report March and first-quarter deliveries with expectations low. BYD will also release sales figures. All are expected to rebound in March but report declines compared to the fourth quarter. Nio and Li Auto have cut their first-quarter targets recently.

Tesla is expected to report a drop in first-quarter deliveries, potentially falling vs. Q1 2023 levels. The U.S. EV giant will reclaim its title for battery electric vehicles from BYD. Tesla will announce its global delivery numbers.

Nio cuts its Q1 delivery forecast to 30,000 vehicles, with March deliveries estimated at 11,813. Li Auto slashes its first-quarter target to 76,000-78,000, with March deliveries around 24,000. XPeng guides for 21,000-22,500 deliveries in Q1.

BYD sold 122,311 EVs in February, down from 201,493 in January. The company slashed prices across its lineup and expects a rebound in March sales. China’s EV makers face competition amid a struggling economy.

Nio, Li Auto, and XPeng face tough competition as new models are introduced in China. Xiaomi enters the market with the SU7 sedan. However, challenges remain for EV makers, with many reporting losses. Stock performances for these companies vary.



Read more at Investor’s Business Daily: China EV Sales Due For Tesla Rivals Nio, Li Auto, XPeng, BYD After Stocks Plunged In Q1