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Nio reported a 134.6% year-over-year increase in vehicle deliveries for April. In addition to growing vehicle deliveries last month, XPeng progressed in developing automated driver-assistance systems.
Chinese luxury electric vehicle maker Li Auto stock saw growth slow over April, with deliveries coming in at 25,787 vehicles, up just 0.41% versus last year. The number was also down by about 11% compared to March.
In the closing of the recent trading day, Li Auto Inc. Sponsored ADR (LI) stood at $26.35, denoting a +0.27% change from the preceding trading day.
Despite achieving a 52% increase in unit sales in the first quarter, Li Auto has had difficulties recently. However, it boasts impressive unit economics, with 23% gross margin and higher profits per vehicle Tesla.
One researcher upped its recommendation on the Chinese electric vehicle company. It now believes Li Auto is a buy.
The stock market is currently under pressure, as the U.S. economic report last week indicated a significant slowdown in growth and persistent inflation issues. Amidst this downturn, savvy investors are looking for EV stocks to buy.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Li Auto announced pre-orders on its new L6 electric SUV last week. Investors were displeased.
Chinese EV stocks have been among the most beaten-down assets in the market. Whether we're talking about Nio (NYSE: NIO ), XPeng (NYSE: XPEV ) or Li Auto (NASDAQ: LI ), the declines many of these EV makers have seen since their peaks during the last hype-driven bubble have been stark to say the least.
Nio and XPeng plan to launch family-friendly EVs in 2024. Both companies have consistently failed to achieve profitability over the past three years.