NIO, other China-based EV maker stocks fall after August deliveries reports

2 months ago 35
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Shares of NIO Inc. NIO, +0.40% fell 2.2% successful premarket trading Thursday, adjacent aft the China-based electrical conveyance shaper reported August deliveries that jumped 81.6% from a twelvemonth agone to 10,677 vehicles. The deliveries included 7,551 premium sport-utility vehicles (SUVs) and 3,126 sedans. In total, the institution has present delivered 238,626 EVs arsenic of Aug. 31. Meanwhile, rival Li Auto Inc.'s banal LI, -0.10% slumped 1.7% aft the institution reported August deliveries of 4,571 vehicles, which was little than fractional (down 51.5%) from 9,433 deliveries reported a twelvemonth ago. It's nary wonderment that Li Auto's latest deliveries property merchandise didn't supply year-ago comparisons. XPeng Inc. shares XPEV, +1.42% fell 2.2%, though the institution reported a 33% emergence successful August deliveries to 9,578 EVs. The banal declines travel arsenic the iShares China Large-Cap ETF FXI, +2.06% dropped 1.3% up of the open, and futures ES00, -0.73% for the S&P 500 SPX, -0.78% declined 0.7%.

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