Chinese “smart electric vehicle” startups XPeng and NIO apparently took some big stock price hits this week due to lower than expected result in August and guidance going forward. I own shares of both, but I don’t really sweat such weeks. (Note: this is not stock advice and I offer no stock advice whatsoever.) From what I see of XPeng and NIO (from far away over here in the United States) is that they continue to be tech leaders in the EV industry and continue to see strong sales growth.
They are far from reaching 1 million+ sales a year, but they are also far from where they started just a few years ago.
Depending on how you look at their sales growth, you could put XPeng or NIO in the lead. XPeng’s January–August sales are up 96% year over year, while NIO’s sales in the first 8 months of the year are up “just” 28%. However, looking only at the month of August, XPeng’s sales are up “only” 33% and NIO’s sales are up 82%. Pick your preference, but I like the results for both. Naturally, as both a shareholder and someone who would like to see global heating halted ASAP, I’d love to see 100% or 200% growth YoY, but that’s not the reality given all the constraints on manufacturing growth, supply chain challenges, and competition on the market.
As far as total sales in the first 8 months of the year, there’s no debate who’s winning. XPeng had 90,085 total vehicle deliveries while NIO had 71,556 total vehicle deliveries. NIO vehicles typically cost more, so revenue should be closer, but I’m all about the unit sales since each car should replace one fossil powered car and cut emissions tremendously.
Let’s look at the sales breakdown by model.
XPeng model sales in August 2022
- XPeng P7 — 5,745
- XPeng P5 — 2,678
- XPeng G3 & G3i — 1,155
That combined for a total of 9,578 vehicle sales for XPeng in August. If you extrapolated out to a year, that would be 114,936 sales (or a little bit less than 114,936 since August is one of the months of the year with 31 days in it).
NIO model sales in August 2022
Agh, NIO doesn’t break out model-specific sales. That’s annoying. This is the breakdown we have:
- 7,551 smart electric SUVs (aka SUVs)
- 3,126 smart electric sedans (aka cars) — including 398 of the new ES7
That comes to a total of 10,677 deliveries in the month of August. If you extrapolated out to a full year, that would be 128,124 sales (or a little bit less than 128,124 sales since August is one of the months of the year with 31 days in it).
Both XPeng and NIO continue to expand their lineups and roll out compelling new EVs.
XPeng just presented its stunning new G9. Read much more about it here: “XPeng G9 — Luxe Cabin & Truly Next-Gen Infotainment Features.” Or head over the XPeng’s website for the rundown.
“Today, we’re presenting our newest SUV, XPENG G9. G9 will be the world’s fastest-charging mass-produced EV, allowing drivers to add up to 200 km of CLTC range in just 5 minutes,” Henry Xia, Director and President of XPENG Motors, addressed the Chengdu Motor Show. pic.twitter.com/sPMkdab9tI
— XPENG (@XPengMotors) August 26, 2022
“Our drivers spend more time listening to music than driving, so we’ve brought the concert hall into the cabin with Xopera, an immersive 5D experience that uses ambient lighting, fragrances, dynamic seat functions, and air conditioning to enhance the music playing in the cabin.” pic.twitter.com/LnWiQ719rR
— XPENG (@XPengMotors) August 26, 2022
As noted higher up, on the NIO side, the company just started ramping up production of the hot new ES7. You can learn more about the ES7 on NIO’s website.
That’s the story for now. Let us know what thoughts you have on XPeng and NIO and their progress.
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
This post has been syndicated from a third-party source. View the original article here.