Al Root and Callum Keown
Chinese electric-vehicle makers posted strong growth ahead of Tesla's second-quarter deliveries.
NIO delivered 24,925 cars in June, up from 21,209 delivered in June 2024. Based on recent guidance, NIO management expected to deliver about 26,000 cars last month. U.S.-listed shares of NIO rose 0.9% in premarket trading.
XPeng delivered 34,611 cars in June, up from 10,668 delivered in June 2024. Based on recent guidance, XPeng management expected to deliver about 36,000 cars in June. XPeng gained 1.3% in the premarket session.
Li Auto delivered 36,279 cars in June, down from 47,774 delivered in June 2024. Based on recent guidance, Li management expected to deliver about 33,000 cars in June. Li, however, cut guidance late last month. Management's initial expectation implied closer to 50,000 deliveries. American depositary receipts of Li Auto were flat.
Coming into Tuesday, Li stock has risen about 13% this year. XPeng stock has posted the strongest growth, its shares have gained about 51%. NIO shares have declined about 21%.
Combined, the three companies delivered 95,815 cars, up from 79,651 delivered in June 2024.
BYD, the largest EV maker in China, delivered 377,628 passenger vehicles in June, including 206,884 all-electric cars. BYD sells all-electric vehicles and plug-in hybrids. A year ago, BYD delivered 340,211 vehicles, including 145,179 all-electric cars.
For the quarter, BYD delivered around 1.13 million cars, including more than 606,000 all-electric vehicles. That number will almost certainly put BYD past Tesla, which is expected to deliver about 385,000 cars in the second quarter, according to the company-complied Wall Street estimates.
Tesla has struggled to generate sales growth in 2025. Vehicle sales fell 13% year over year in the first quarter. The 385,000 consensus estimate also is down about 13% from 444,000 vehicles delivered in the second quarter of 2024.
Coming into Tuesday, BYD has risen about 37% this year. Tesla shares have fallen about 21%, while the S&P 500 has gained 5%.
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
July 01, 2025 07:05 ET (11:05 GMT)
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