Stock of Nio Rises Toward 5-day Winning Streak as Q3 Deliveries Increase 75%

Nio Inc. saw its shares rise for the fifth consecutive time on Monday following a significant increase in vehicle deliveries for both September and the third quarter. This boost came as the company introduced its new EC6 coupe SUV. Fellow electric vehicle (EV) manufacturers Li Auto Inc. and XPeng Inc. also reported substantial delivery increases.

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Nio's stock, which had recently hit a 3 1/2-month low on September 25, rose by 0.8% in premarket trading and had climbed by 10% in the past four sessions.

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Over the weekend, Nio announced that it had delivered 15,641 vehicles in September, marking a 43.8% increase compared to the previous year. This total included 11,504 smart electric sport-utility vehicles and 4,137 sedans. In the third quarter, Nio delivered 55,432 EVs, which represented a 75.4% growth compared to the previous year. Deliveries of the EC6 smart electric coupe SUV commenced on September 15.

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Nio's stock had experienced a 6.7% decline over the past three months, while the iShares MSCI China ETF declined by 3.2%, and the S&P 500 index slipped by 3.7%.

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Li Auto also reported delivering a monthly record of 36,060 vehicles in September, reflecting a remarkable 212.7% year-over-year increase. For the third quarter, Li Auto achieved a nearly four-fold increase, with deliveries reaching 105,108 vehicles, making it China's first new-energy automaker to reach the milestone of 500,000 deliveries. Li Auto's stock saw a 1.7% increase before Monday's trading began.

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XPeng's stock experienced its fourth consecutive gain, rising by 0.9%, following the company's announcement that it delivered 15,310 vehicles in September, an 81% year-over-year increase. In the third quarter, XPeng's deliveries surged by 72% to reach 40,008 EVs, primarily due to the significant expansion of production capacity for the G6 model.

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In a separate report, BYD Co. disclosed that it delivered 144,179 battery-electric vehicles in September, reflecting a 50% increase compared to the previous year. Additionally, plug-in hybrid vehicle deliveries increased by 30% to 135,118.

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Over the past three months, Li Auto's stock saw a 1.6% gain, XPeng's shares surged by 36.8%, and BYD's U.S.-listed stock declined by 3.5%.

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