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China EV Makers Xpeng, Nio and Li Post Higher Deliveries for Q4, 2021

China electric-car companies Xpeng, Nio and Li all report stronger deliveries for December, the fourth quarter and full year ahead of expected subsidy cuts.
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China-based electric-car companies reported stronger delivered for December, the fourth quarter and full year.

Barron’s reported that December deliveries for the three China-based EV producers -- Xpeng, Nio and Li -- might have been boosted because subsidies on EVs sold there will be cut in 2022.

And the paper suggested that the higher deliveries may mean higher earnings estimates from Wall Street analysts.

All have a long road ahead to catch up to the market leader, Tesla (TSLA) - Get Tesla Inc Report, which delivered 308,000 vehicles in the fourth quarter and 936,000 in all of 2021. The company delivered just short of a half-million cars in 2020.

XPeng  (XPEV) - Get Xpeng Inc Report deliveries nearly tripled in December and tripled in Q4 and full-year 2021.

The Guangzhou company delivered 16,000 EVs in December 2021, exceeding its monthly delivery benchmark of 15,000 “despite ongoing global supply chain challenges.”

For the month, customers took delivery on 7,459 of the model P7 sports sedan, 5,030 of the P5 family sedan and 3,511 of the G3 and G3i. In particular Xpeng said deliveries of the P5 “ramped up steadily” and the order backlog for the model is “solid.”

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The company delivered 41,751 cars in the quarter, more than half of them (21,342) the P7. And for the year, deliveries reached 98,155.

Nio  (NIO) - Get NIO Inc. (China) Report deliveries rose 50% in December and 44% in the fourth quarter and they doubled for the full year.

In December, Nio reported, 10,489 electric vehicles were delivered, up 50% from a year earlier. The Shanghai company delivered 2,782 of the model ES8, its six- or seven-seat premium SUV; 4,939 of the model ES6, a five-seat SUV, and 2,768 of the EC6, a five-seat coupe SUV.

And Nio delivered 25,034 vehicles in the fourth quarter and 91,429 in 2021.

Nio expects to begin delivering the ET7, a premium electric sedan, in March. And two weeks ago Nio unveiled the ET5, a midsize electric sedan and said it would begin delivering it to customers in September.

As for Li Auto,  (LI) - Get Li Auto Report the Beijing company’s deliveries more than doubled in the month and fourth quarter and nearly tripled for the year.

Li delivered 14,087 of the Model One in December; 35,221 in the quarter and 90,491 for the full year.