EV Roundup: Tesla Hits 2023 Delivery Target, Rivian Comes up Shy of Delivery Forecast
$Tesla(TSLA.US$ stock wavers after reporting deliveries in the fourth quarter exceeded Wall Street predictions, as the global EV giant sold a record-setting number of vehicles in Q4 and hit full-year expectations, according to data released by Tesla early Tuesday.
The Chinese automaker BYD, which is considered as Tesla's biggest rival globally, overtook Tesla in quarterly deliveries of fully electric vehicles for the first time. It sold a total of 3.02 million new energy vehicles for the whole year 2023. Out of these, 1.6 million were battery-electric passenger cars, and the remaining 1.4 million were hybrid electric models, whereas Tesla sold 1.8 million. Most of BYD's cars sell in a lower price range than Tesla's, and come in hybrid versions while vehicles are solely battery-powered.
BYD shares fell over 2% in Hong Kong trading Tuesday morning.
$Rivian Automotive(RIVN.US$'s shares fell 10% on Tuesday following their report of higher vehicle production during the fourth quarter but fewer deliveries than the previous period. The company said it produced 17,541 units and delivered 13,972 vehicles in the fourth quarter. Analysts had predicted fourth-quarter vehicle deliveries growing 75% to 14,000.
Following the release of their latest delivery numbers, $Li Auto(LI.US$, $NIO Inc(NIO.US$, and $XPeng(XPEV.US$ witnessed a decline. Li Auto's shares fell 7% after reporting 50,353 deliveries in December, a 137% increase compared to the previous year. Nio's shares slipped 6% after announcing that it had delivered over 18,012 vehicles last month, which was approximately 14% more than the previous year. XPeng's shares declined by over 3% after reporting a year-over-year increase of 171% with 20,115 deliveries in December.
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ZnWC : Thanks for sharing. This is some add-ons to the EV stocks performance after Q4 delivery results.
TSLA wavers BYD, RIVN, XPEV NIO & LI stocks fell after Q4 delivery results out
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