We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The Zacks Analyst Blog Highlights Tesla, Rivian, NIO, Li Auto and XPeng
Read MoreHide Full Article
For Immediate Releases
Chicago, IL - July 5, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Tesla (TSLA - Free Report) , Rivian (RIVN - Free Report) , NIO Inc. (NIO - Free Report) , Li Auto (LI - Free Report) and XPeng Inc. (XPEV - Free Report) .
Here are highlights from Friday’s Analyst Blog:
EV Roundup: Q2 Deliveries for Tesla, Rivian and More
Major U.S. EV companies like Tesla, Rivian and China-based NIO Inc., Li Auto and XPeng Inc. released their delivery results for the second quarter of 2024. Here’s a rundown of the delivery numbers.
Tesla delivered 443,956 cars (422,405 Model 3/Y and 21,551 other models) worldwide in the second quarter, beating analysts’ expectations of 439,000 as compiled by FactSet. The deliveries were down roughly 5% year over year but increased 15% from the first quarter of 2024. The company produced 410,831 vehicles (386,576 Model 3/Y, and 24,255 Model S/X) in the three months ended June.
NIO delivered 21,209 vehicles last month, comprising 11,581 premium smart electric SUVs and 9,628 premium smart electric sedans. Deliveries jumped 98.1% year over year. Second-quarter 2024 deliveries rocketed 144% year over year to 57,373 units. As of Jun 30, 2024, NIO’s cumulative vehicle deliveries totaled 537,020 units.
Li Auto reported monthly deliveries of 47,774 vehicles in June, representing an uptick of 46.7% year over year. It delivered 108,581 vehicles in the second quarter of 2024, rising 25.5% year over year. LI’s cumulative deliveries reached 822,345 as of Jun 30, 2024. Li Auto exited the quarter with 497 retail stores in 148 cities. Its servicing centers totaled 421 and Li Auto-authorized body and paint shops were in 220 cities. The company has 614 supercharging stations with 2726 charging stalls in China.
XPeng delivered 10,668 EVs last month, up 24% year over year and 5% from the month of May. With deliveries of 1,687 units in June, XPENG X9 remained the top-selling all-electric multi-purpose vehicle in China. Around 13,143 units of XPENG X9 have been sold since its launch. In the second quarter of 2024, XPeng delivered 30,207 smart EVs, up from 23,205 recorded in the year-ago period. In the first six months ending June, XPEV delivered 52,028 units, up 26% from the year-ago period.
Rivian manufactured 9,612 vehicles at its Illinois factory, down from 13,980 units in the first quarter of 2024 and 12,640 units in the second quarter of 2023. Deliveries of 13,790 units in the second quarter of 2024 were up from 13,588 units in the first quarter of 2024 but down from 13,992 units in the second quarter of 2023. Rivian maintains its full-year delivery guidance of 57,000 units. Recently, Rivian secured a massive deal with Volkswagen, per which the German auto giant will invest up to $5 billion in the California-based EV startup.
XPEV carries a Zacks Rank #2 (Buy) currently. NIO, TSLA and RIVN are #3 Ranked (Hold), while LI Auto carries a Zacks Rank #5 (Strong Sell) at the moment.
Stay tuned for announcements of upcoming EV models and any important updates from the red-hot industry.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
The Zacks Analyst Blog Highlights Tesla, Rivian, NIO, Li Auto and XPeng
For Immediate Releases
Chicago, IL - July 5, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Tesla (TSLA - Free Report) , Rivian (RIVN - Free Report) , NIO Inc. (NIO - Free Report) , Li Auto (LI - Free Report) and XPeng Inc. (XPEV - Free Report) .
Here are highlights from Friday’s Analyst Blog:
EV Roundup: Q2 Deliveries for Tesla, Rivian and More
Major U.S. EV companies like Tesla, Rivian and China-based NIO Inc., Li Auto and XPeng Inc. released their delivery results for the second quarter of 2024. Here’s a rundown of the delivery numbers.
Tesla delivered 443,956 cars (422,405 Model 3/Y and 21,551 other models) worldwide in the second quarter, beating analysts’ expectations of 439,000 as compiled by FactSet. The deliveries were down roughly 5% year over year but increased 15% from the first quarter of 2024. The company produced 410,831 vehicles (386,576 Model 3/Y, and 24,255 Model S/X) in the three months ended June.
NIO delivered 21,209 vehicles last month, comprising 11,581 premium smart electric SUVs and 9,628 premium smart electric sedans. Deliveries jumped 98.1% year over year. Second-quarter 2024 deliveries rocketed 144% year over year to 57,373 units. As of Jun 30, 2024, NIO’s cumulative vehicle deliveries totaled 537,020 units.
Li Auto reported monthly deliveries of 47,774 vehicles in June, representing an uptick of 46.7% year over year. It delivered 108,581 vehicles in the second quarter of 2024, rising 25.5% year over year. LI’s cumulative deliveries reached 822,345 as of Jun 30, 2024. Li Auto exited the quarter with 497 retail stores in 148 cities. Its servicing centers totaled 421 and Li Auto-authorized body and paint shops were in 220 cities. The company has 614 supercharging stations with 2726 charging stalls in China.
XPeng delivered 10,668 EVs last month, up 24% year over year and 5% from the month of May. With deliveries of 1,687 units in June, XPENG X9 remained the top-selling all-electric multi-purpose vehicle in China. Around 13,143 units of XPENG X9 have been sold since its launch. In the second quarter of 2024, XPeng delivered 30,207 smart EVs, up from 23,205 recorded in the year-ago period. In the first six months ending June, XPEV delivered 52,028 units, up 26% from the year-ago period.
Rivian manufactured 9,612 vehicles at its Illinois factory, down from 13,980 units in the first quarter of 2024 and 12,640 units in the second quarter of 2023. Deliveries of 13,790 units in the second quarter of 2024 were up from 13,588 units in the first quarter of 2024 but down from 13,992 units in the second quarter of 2023. Rivian maintains its full-year delivery guidance of 57,000 units. Recently, Rivian secured a massive deal with Volkswagen, per which the German auto giant will invest up to $5 billion in the California-based EV startup.
XPEV carries a Zacks Rank #2 (Buy) currently. NIO, TSLA and RIVN are #3 Ranked (Hold), while LI Auto carries a Zacks Rank #5 (Strong Sell) at the moment.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
What’s Next in the Space?
Stay tuned for announcements of upcoming EV models and any important updates from the red-hot industry.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
See Stocks Free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.