TSLA - Nio XPeng and Li Auto rally after monthly reports indicate strong demand trend

Chinese electric vehicle stocks are higher after deliveries reports for November show strong demand with XPeng (NYSE:XPEV), Nio (NYSE:NIO) and Li Auto (NASDAQ:LI) all posting triple-digit gains compared to last year. Of note, Shanghai-based analyst say young drivers in the nation are increasingly interested in EVs. Meanwhile, Bank of America says its checks suggests that XPeng’s (XPEV) new orders gained in November is still larger than vehicle delivery to imply a solid demand trend. Li Auto (LI) is noted to have posted 190% year-over-year growth and now have 174 retail stores across 93 cities. BofA says other major NEV brands in China also announced November deliveries, including Aion (14.6K units, +123% Y/Y), Volkswagen (OTCPK:VWAGY) ID (14.2K units, +11% M/M), Leap Motor (5.6K units, +236% Y/Y), Nezha–Hozon (10K units, +372% Y/Y) and Zeekr–Geely (2K units). Other Chinese automakers: BYD (OTCPK:BYDDY), Great Wall Motor (OTCPK:GWLLF, OTCPK:GWLLY), Geely Automobile (OTCPK:GELYF), Kandi Technology (NASDAQ:KNDI), Guangzhou

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Nio, XPeng and Li Auto rally after monthly reports indicate strong demand trend