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Xpeng, Nio and other Chinese automakers sales in December 2021

ScanXpeng, Nio, and Li Auto are the three automakers listed in the US. These EV makers started their 2022 with big delivery numbers in December 2021. All the three companies together, there were more than 40,000 deliveries. Xpeng announced that they sold 16,000 smart EVs and total EV, Nio announces their EV sales of 10,489 units. Furthermore, Li Auto announces 14,087 Li-One sales in December.

Nio, Li Auto and Xpeng vehicles

Image credits- The Money Fool

The three automakers continue to grow rapidly in China and also globally. Xpeng is expanding its network in China as it established 661 branded supercharging stations across 311 physical retail stores in 121 cities by the end of November 2021. Meanwhile, Nio is producing its highest ever rate which is 10,000+ EVs. Though none of the models specifically set any record, they are doing much better individually compared to the previous sales of the same model. Additionally, Li Auto sales increased by 177.4% compared to last year. By the end of 2021, the company had 206 retail stores in 102 cities and 278 servicing centers. They also have body and paint shops in 204 cities in China.

December vehicle deliveries for all EV producers might have been boosted by a subsidy cut coming for Chinese car buyers in 2022. Buyers rushed to get a slightly better deal. The Chinese purchase subsidy for an EV is about 10,000 Yuan, ($1,500), from 14,400 Yuan ($2,200). The $700 difference amounts to about a 2% price bump for typical EVs.

Strong delivery results

While Xpeng and Li Auto already had shares gaining at 18% and 11% respectively, Nio shares struggled at a 35% drop in 2021. With these strong delivery sales, the evaluation is expected to gain back. However, despite the struggle shared, Nio’s market capitalization is about $54 billion. Which is more than Xpeng and Li Auto’s capitalization.

According to Barron’s analysis, “Falling subsidies are one-factor investors will have to consider regarding Tesla and Chinese EV makers in 2022. But higher December deliveries mean that earnings estimates for NIO, XPeng, Li, and likely Tesla, will rise in the coming weeks. More cars than expected means more sales and better bottom-line results.”

Xpeng deliveries observed a 222% increase of year over year sales including  21,342 P7 deliveries. In December the sales included 459 P7 smart sports sedans, 5,030 P5 smart family sedans, and 3,511 G3 and G3i smart SUVs. In 2021 Nio sold over 90,000 units. The break out is as follows,

  • ES6: 41,474 (up 48% year-over-year)
  • EC6: 29,905 (up 489% year-over-year)
  • ES8: 20,050 (up 85% year-over-year)
  • Total: 91,429 (up 109% year-over-year)

Over the years Nio sold a total of 167,070 electric cars, which includes 91,000 cars that were sold in 2021. Nio expanded its sales to Norway this year, and the automaker continues to expand further globally.

 

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