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Nio and Xpeng Report June and 2Q Delivery Numbers; Tesla Report Expected to be 'Ugly'

Stock Markets Jul 01, 2022 07:19AM ET
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© Reuters. Nio (NIO) and Xpeng (XPEV) Report June and 2Q Delivery Numbers; Tesla (TSLA) Report Expected to be 'Ugly'

By Michael Elkins

Chinese electric vehicle companies Nio Inc. (NYSE:NIO) and Xpeng Inc. (NYSE:XPEV) released their vehicle delivery results for June 2022 and the second quarter 2022 on Friday.

NIO delivered 12,961 vehicles in June 2022, and 25,059 vehicles in the second quarter. An increase of 60.3% and 14.4% year-over-year, respectfully.

XPeng recorded 15,295 deliveries in June, representing a 133% increase year-over-year, and 34,422 Smart EVs in total for the second quarter 2022, ranking first among emerging auto brands in China for the fourth consecutive quarter.

Tesla (NASDAQ:TSLA) is expected to release their delivery results for the month and second quarter later today, or this weekend. Analysts polled by FactSet, on average, expect the company to report 265,000 vehicles delivered in the second quarter, with forecasts ranging from Deutsche Bank's 245,000 and Wedbush's 250,000 to a high of 272,000.

Dan Ives, an analyst from Wedbush said, "June delivery numbers will be ugly and nothing to write home about," but added that the Street will be "focused on the trajectory for (the second half of 2022) and the overall demand picture staying firm."

Nio and Xpeng Report June and 2Q Delivery Numbers; Tesla Report Expected to be 'Ugly'
 

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