Nio's stock rises toward 5-day win streak as Q3 deliveries jump 75%

By Tomi Kilgore

Li Auto's deliveries tripled in September, XPeng's deliveries climbed 81%

Shares of Nio Inc. rose Monday toward a fifth-straight gain, after the China-based electric-vehicle maker reported a big jump in deliveries for both September and the third quarter, amid the launch of its new EC6 coupe SUV.

Fellow EV makers Li Auto Inc. (LI) and XPeng Inc. (XPEV) also reported big increases in deliveries.

Nio's stock (NIO) rose 0.8% in premarket trading. It has climbed 10% over the past four sessions, after closing at a 3 1/2-month low on Sept. 25.

The company said over the weekend that it delivered 15,641 vehicles in September, up 43.8% from a year ago. The deliveries included 11,504 smart electric sport-utility vehicles and 4,137 sedans.

For the third quarter, the 55,432 EVs delivered were 75.4% more than last year.

The company said deliveries of the EC6 smart electric coupe SUV started on Sept. 15.

Nio's stock has lost 6.7% over the past three months through Friday, while the iShares MSCI China ETF MCHI has declined 3.2% and the S&P 500 index SPX has slipped 3.7%.

Also over the weekend, Li Auto said it delivered a monthly record 36,060 vehicles in September, representing a 212.7% increase from the same month a year ago. For the third quarter, deliveries were up nearly four-fold (up 296.3%) from a year ago to 105,108 vehicles.

The company said it also became China's first new-energy automaker to reach the delivery milestone of 500,000.

The stock rallied 1.7% ahead of Monday's open.

Xpeng's stock advanced 0.9% toward a fourth-straight gain, after the EV maker said it delivered 15,310 vehicles in September, up 81% from a year ago. For the third quarter, deliveries hiked up 72% to 40,008 EVs, as production capacity of the G6 model "expanded significantly."

Separately, BYD Co. (BYDDY) (CN:002594) reported Monday deliveries of 144,179 battery-electric vehicles in September, up 50% from a year ago, while plug-in hybrid vehicle deliveries increased 30% to 135,118.

Li Auto's stock has gained 1.6% over the past three months, while XPeng shares have soared 36.8% and Boyd's U.S.-listed stock has given up 3.5%.

-Tomi Kilgore

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10-02-23 0654ET

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