EV shares went up in morning trading.
NIO surged over 11%; XPeng rose over 9%; Li Auto, Lucid rose over 6%; Fisker rose 4%; Nikokla, Rivian rose over 3%; Tesla rose 1.85%.
In the week of January 15-21, Li Auto returned to No. 1 in sales for new car-making brands with weekly sales of 7,600 units, the company said today.
As before, Li Auto didn't explain the basis for calculating the weekly sales, but apparently, they were insurance registrations. The company suspended sharing this data in May 2023, but has since resumed sharing it.
Li Auto's insurance registrations last week were up 11.76 percent from 6,800 the week before, beating Huawei-backed Aito's 7,300.
Nio was at 1,900 last week, up 11.76 percent from 1,700 the week before.
Xpeng was at 1,800 last week, up 28.57 percent from 1,400 the week before.
Tesla was 11,700 last week, up 58.11 percent from 7,400 the week before.
Fisker said on Tuesday it expects to sell all its nearly 5,000 unsold vehicles made last year by the end of the first quarter and that its newly announced dealer-partner model has gained traction.
More than 100 dealers in the United States, Canada, and Europe have expressed interest in becoming a Fisker dealer, the electric vehicle (EV) company said.
While the EV startup made more than 10,000 vehicles in 2023, it delivered only about 4,700 units of Ocean sport utility vehicles due to logistics constraints.