Despite several headwinds, Chinese electric carmakers Nio, Xpeng and Li Auto all posted a surge in March delivery volumes.
"The company attributes its robust Q1 delivery results to growing brand awareness and higher demand for its Smart EV products as well as accelerated delivery of its large order backlog from 2021 and new orders received in 2022 after it completed technology upgrades for its Zhaoqing plant in February," an Xpeng spokesperson told CNBC.reported a rebound in deliveries of its cars in February but said production has been affected because of a resurgence of Covid cases in China.
U.S.- and Hong Kong-listed Li Auto delivered 11,034 of its Li ONE sports utility vehicle in March, up 31% from February. For the first quarter, Li Auto said it had delivered 31,716 vehicles, an increase of 152.1% year on year. However, the company said that production has been affected"by the shortage of certain auto parts resulting from the resurging COVID-19 cases recently in the Yangtze Delta region," which includes the area where Li Auto's factory is.
Last month, Li Auto said it would increase the price of its Li ONE car from 338,000 Chinese yuan to 349,800 yuan, effective from April 1. Li Auto is gearing up to release its next car, the L9 SUV, on April 16, as competition in China's electric vehicle market continues to heat up.Nio said it delivered 9,985 vehicles in March, up 62.8% from February. The company has delivered 25,768 vehicles in the first quarter of 2022, an increase of 28.5% year over year. That was a quarterly delivery record for the electric vehicle maker.Next month, Nio will debut its new SUV called the ES7.
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