Singapore markets close in 6 hours
  • Straits Times Index

    3,252.99
    -20.49 (-0.63%)
     
  • Nikkei

    28,967.94
    +25.80 (+0.09%)
     
  • Hang Seng

    19,823.30
    +59.39 (+0.30%)
     
  • FTSE 100

    7,541.85
    +26.10 (+0.35%)
     
  • BTC-USD

    22,808.91
    -656.97 (-2.80%)
     
  • CMC Crypto 200

    542.20
    -15.53 (-2.78%)
     
  • S&P 500

    4,283.74
    +9.70 (+0.23%)
     
  • Dow

    33,999.04
    +18.72 (+0.06%)
     
  • Nasdaq

    12,965.34
    +27.22 (+0.21%)
     
  • Gold

    1,769.10
    -2.10 (-0.12%)
     
  • Crude Oil

    90.19
    -0.31 (-0.34%)
     
  • 10-Yr Bond

    2.8800
    -0.0130 (-0.45%)
     
  • FTSE Bursa Malaysia

    1,516.58
    -0.04 (-0.00%)
     
  • Jakarta Composite Index

    7,215.85
    +29.29 (+0.41%)
     
  • PSE Index

    6,856.54
    +31.91 (+0.47%)
     
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Tesla competitors XPeng, NIO post strong delivery numbers

In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Yahoo Finance Live's Brian Sozzi breaks down the latest output numbers from electric vehicle makers in China.

Video transcript

[MUSIC PLAYING]

BRIAN CHEUNG: Welcome back to Yahoo Finance. That is the metaverse avatar of our esteemed colleague Brian Sozzi. And I want to press you today about the China-based electric vehicle makers who all apparently reported strong November deliveries. Give us the background for exactly what's going on with those EV makers overseas.

BRIAN SOZZI: Yeah, Brian, well, I'll tell you in advance, I'm not taking any follow up questions here. But another strong month for these EV makers here, and I think investors are really being reminded here, or they should be, the market potential in China as a result of supportive policy from the Chinese government to get people into electric vehicles.

And you look at Xpeng, their deliveries in November up 270% year over year despite chip supply shortages. Of interest, Xpeng really has been one of the hottest tickers on the Yahoo Finance platform. So far week to date, the stock rose 7% yesterday. Seeing a little bit of a give back today, but still a strong run for Xpeng into these results.

You look at Nio and the theme was the same. Deliveries up 105.6% year over year. You look at Li Auto, deliveries up 190.2% year over year. And these results are really impressive. Again, as I mentioned, as those supply constraints are hurting a lot of automakers-- certainly we've seen that in the US, the likes of General Motors being impacted by the chip supply shortage here. But again, the Chinese EV makers really remain on absolute fire here.

At some point soon, you're starting to now, I think, position for these companies turning profits. They're not making money yet, but you have to think if they can continue to drive deliveries, triple-digit growth, at some point late in 2022 and then 2023, these companies should turn profitable.

BRIAN CHEUNG: All right, well, you heard the man himself. No follow up questions right there. So we'll leave it at that.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting