Al Root
Chinese electric vehicle makers NIO, XPeng, and Li Auto turned in strong January results on Saturday. More EVs are going to be sold in China this year.
NIO said it delivered 13,863 vehicles in January, up 38% year over year. XPeng did better, reporting 30,350 vehicles, up 268% year over year.
Li suffered a small decline, with the auto maker reporting 29,927 deliveries, about 4% year over year.
Combined, the three delivered more than 74,000 cars, up about 50% year over year.
Sales fell about 50% from December's 126,000 vehicles sold, but January is a seasonally weak month in China. Shopping tends to dip in January, and oftentimes buyers will purchase ahead of any regulatory changes in a new year. (January was the lowest month for U.S. car sales in 2023 and 2024.)
Citi analyst Jeff Chung expects some 9 million all-electric cars to be sold in China in 2025, up from about 7.8 million in 2024. That's good news for the industry, including Tesla. China accounts for roughly one-third of Tesla's global car sales--and Elon Musk's car company is trying to return to growth in 2025.
Tesla shipped just under 1.8 million cars in 2024, about 20,000 fewer than 2023.
Through Friday, XPeng stock has gained 29% this year. In that same span, Li stock has dropped 2% and NIO shares has fallen 1%.
Tesla shares are flat this year, while the S&P 500 is up almost 3%.
Write to Al Root at allen.root@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
February 01, 2025 09:49 ET (14:49 GMT)
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