XPEV - BYD bucks trend as deliveries surge despite pandemic problems

Warren Buffett favorite BYD Company’s (OTCPK:BYDDY) surging deliveries defied both COVID-driven hurdles and its peers’ recent performance outlooks, driving shares higher on Tuesday. The Shenzhen-based electric vehicle manufacturer announced the delivery of 57,403 battery electric vehicles in April, up nearly 270% from the prior year and marking a small improvement sequentially. When accounting for plug-in hybrid and commercial vehicles, total sales reached 106,042 for the month. Thus far in 2022, total new energy vehicle sales are nearing 400,000 while production volume has kept pace. The sales numbers are indeed promising, especially in the face of far more bearish numbers from Nio (NIO), Li Auto (LI), and Xpeng (XPEV). However, the production capacity is arguably even more encouraging. Production capacity was perhaps helped by concentration in the city of Shenzhen, which emerged from a lockdown in late March just as Shanghai was being plunged into its most stringent restrictions.  Shares closed

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BYD bucks trend as deliveries surge despite pandemic problems