Shares of Nio Inc. went up on Monday after the company and others in the same industry reported good EV delivery data for June and the second quarter.
The data also gave shares of Tesla Inc. a boost. They were on track for their longest winning streak in a year, and this was before this week’s sales data came out.
Nio said it sent out 21,209 EVs in June, which is 98.1% more than the same time last year. 11,581 sport-utility vehicles and 9,628 sedans were delivered.
57,373 EVs were delivered in the second quarter, which is 143.9% more than the same time last year.
Nio’s stock NIO, +6.73% went up 2.9% in morning trading after going down 10.3% in the two previous sessions.
Li Auto Inc. stock LI, +6.71% went up 4%, and XPeng Inc. stock XPEV, +5.18% went up 2.5%. Li stock has dropped 5.5% in the last two days, while XPeng stock has dropped 11%.
Li said that 47,774 EVs were delivered in June, which is 46.7% more than the same month last year. Deliveries of 108,581 EVs in the second quarter were also up 25.5%.
Xpeng said that deliveries of 10,668 EVs in June were 24% higher than the same month last year. Deliveries of 30,207 EVs in the second quarter were 30.2% higher than the same time last year.
In other news, BYD Co. Ltd. BYDDY, +1.12% 1211, -1.64% shares listed in the U.S. went up 0.6%.
The company said it sold 341 658 electric cars in June, which is 35% more than the same month last year. There were 195,032 plug-in hybrid electric vehicles sold, which is 57.9% more than the previous year and 145,179 battery-electric vehicles sold, which is 13.2% more than the previous year.
Tesla TSLA, +6.05% shares went up 4.6% in morning trading. China was where the company made 21.6% of its first-quarter sales. So far, the stock has gone up four times in a row. If it does, it will have won six straight sessions, which was the longest winning streak since July 18, 2023.
Stock prices are high even though Wall Street is worried that Tesla may report fewer deliveries in the second quarter than they were in the same time last year.
