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Nio, Li Auto stocks gain after rising November sales

American depositary receipts of Nio Inc. and Li Auto Inc. rose on Wednesday, after the China-based electric vehicle makers reported rising November sales, with XPeng Inc.’s ADRs bucking the trend following its sales news.

Nio Inc.
NIO,
+3.71%

said earlier Wednesday it delivered 10,878 vehicles in November, more than double its deliveries in November 2020. The EV maker, which has pioneered battery-as-a-service for EVs and aims for a clubhouse feel in its stores, said it delivered 80,940 vehicles year to date, a rise of 120%.

Li Auto
LI,
+3.89%

said it delivered 13,485 of its Li ONE luxury SUVs in November, an 190% year-over-year increase. Total deliveries for the 11 months ended on Nov. 30 reached 76,404, the company said.

XPeng
XPEV,
-1.33%

delivered 15,613 EVs in November, a 270% rise from November 2020, the company said. To date, the company has delivered 82,155 vehicles, a 285% increase over the same period in 2020.

“The robust delivery momentum bears witness to the competitiveness of XPeng’s smart EVs and steady execution in light of the ongoing challenges in various aspects of the global supply chain,” the company said in a statement. Nio and Li Auto didn’t discuss any supply issues.

Some of the optimism about Chinese EVs and car sales broadly appeared to be spilling over to Ford Motor Co.
F,
+6.15%
,
with Ford shares up more than 5% in morning trading. Ford is scheduled to report November sales on Friday.

Tesla Inc.
TSLA,
+1.16%

and General Motors Co.
GM,
+3.76%

report quarterly sales and are next scheduled to do so in early January.

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XPeng stock has gained more than 30% this year, while Li Auto around 26%. Nio shares are in the red for the year, down 17%. Their performance compares with gains of about 23% for the S&P 500 index.
SPX,
+1.81%

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