Shares of Chinese electric vehicle makers Nio (NYSE:NIO), Li Auto (NASDAQ:LI) and Xpeng (NYSE:XPEV) are surging pre-market after the three announced June delivery numbers.
NIO is up 4.2% in pre-market trading Monday after the Chinese automaker announced over the weekend that they delivered 10,707 last month, a 17.4% drop from the same time last year, but a significant 74% increase from numbers reported in May. For the second quarter, Nio cumulatively delivered 23,520 vehicles.
LI announced 32,575 deliveries in the month of June, ahead of both NIO and XPEV. Marking a 150.1% jump over June of 2022.
“Benefiting from the comprehensive enhancement of our organizational processes and operating capabilities, our monthly deliveries exceeded 30,000 for the first time, making Li Auto currently the only Chinese premium brand to achieve this milestone," commented Xiang Li, chairman and chief executive officer of Li Auto.
For Q3, the company targets monthly deliveries for Li L8 and Li L9 at over 10,000 each and aims to achieve 15,000 Li L7 monthly deliveries. In Q4, the company aims to achieve the 40,000 monthly deliveries.
Shares of LI are up 5.64% in pre-market trading.
Xpeng delivered 8,620 vehicles in June, up 14.84% from May and the fifth straight month of sequential growth. Deliveries of Xpeng's flagship sedan P7 series rose 17% in June from the previous month, it said, without disclosing specific figures.
The company delivered 23,205 vehicles in the second quarter, above the upper end of Xpeng's previous guidance range of 21,000 to 22,000 vehicles and up 27.29% from the first quarter but down 32.59% from the previous year.
Xpeng launched its new SUV, the G6, in China on June 29 at a price significantly lower than its main competitor, the Tesla (NASDAQ:TSLA) Model Y. Xpeng chairman and CEO He Xiaopeng said at the G6 launch event that the G6 had more than 35,000 pre-sale orders as of June 28 since pre-sale began on June 9.
Shares of XPEV are up 7.45% in pre-market trading on Monday.