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The pair reported April supply figures over the weekend. NIO (ticker: NIO), for its half, reported it delivered 7,102 automobiles, up 125% yr over yr. The year-over-year change, nevertheless, doesn’t matter. NIO is a high-growth firm and has been including capability quickly. Deliveries have been at about the identical stage as current months. NIO delivered 7,257 automobiles in March.
Present manufacturing capability is about 7,500 automobiles a month, however manufacturing hasn’t been capable of hit that stage due to the worldwide semiconductor scarcity roiling the automotive business.
The 7,100 determine places NIO on observe to hit is second quarter supply steering of roughly 21,000 automobiles given this previous week when the corporate reported stronger than anticipated first-quarter numbers. That’s a optimistic. Nonetheless, administration mentioned on their earnings convention name that the chip scarcity was anticipated to get worse in Could, leaving traders some lingering concern over how deliveries will develop within the closing two months of the quarter.
XPeng (XPEV) reported deliveries of 5,147 automobiles in April. That, like these of NIO, is a big year-over-year enhance. XPeng delivered 5,102 automobiles in March, however month-to-month deliveries are flat whereas the semiconductor scarcity persists.
XPeng hasn’t reported first quarter numbers but. It’s slated to take action on Could 13. There isn’t any second quarter supply steering for traders to weigh. The corporate’s information launch included a rundown of current bulletins together with using lidar sensors to boost autonomous driving options and new battery chemistries that may assist scale back car value. Nevertheless it didn’t point out the chip scarcity.
Going into Monday buying and selling, the information is probably going adequate for each shares. There is no such thing as a adverse shock hidden in both press launch.
Shares of each firms have had a roughly trip to this point in 2020. Excessive valuation, new EV competitors in China and the chip scarcity have all conspired to harm investor sentiment. XPeng shares are down about 30% this yr, far worse than comparable beneficial properties of the
Dow Jones Industrial Common.
NIO inventory is down about 18% this yr.