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Tesla Rival Set To Seize EV Crown

BYD (BYDDF) is set to surpass Tesla (TSLA), with China EV peers Li Auto (LI), XPeng (XPEV) and Nio (NIO) also reporting deliveries for December, the fourth quarter and the full year.




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Li Auto, XPeng and Nio will report deliveries on Monday, Jan. 1. BYD will report Monday or Tuesday. Tesla will report deliveries on or around Tuesday, Jan. 2. The deliveries data comes as the China EV price war continues to intensify.

BYD Sales

BYD needs to sell 316,626 EVs in December to hit its 2023 target of 3 million electric vehicles, including plug-in hybrids. That would be up from November’s record 301,903. BYD has ramped up discounts to hit its goal amid the fierce EV price war.

BYD sales of fully battery electric vehicles (BEVs) should top 500,000 in the fourth quarter. That would be enough to overtake Tesla for the first time.

BYD’s China insurance registrations were at 180,000 in December through Christmas Eve, including 63,900 in the latest week. That doesn’t include significant overseas sales. It also doesn’t include sales of BYD’s premium brands. Its Denza brand had 2,300 deliveries in the latest week. The new F-brand Bao 5 had 1,300 weekly deliveries while the superpremium YangWang U8 hit 400 registrations, both ramping up.


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Li Auto Deliveries

Li Auto has said it could challenge 50,000 deliveries in December, up from a record 41,300 in November. Through Dec. 24, Li Auto sold 36,400 extended-range vehicles, essentially plug-in hybrids.

XPeng Deliveries

XPeng deliveries just topped 20,000 vehicles in October and November, but it may struggle to hit that mark in December. Registrations were at 12,500 through Dec. 24, with the figure tumbling 18.75% in the latest week to 3,900. XPeng does have modest deliveries in Europe.

Nio Deliveries

Nio has guided for 47,000-49,000 deliveries in Q4, implying 14,967-16,967 for December. Its insurance registrations were at 12,000 through Dec. 24, including a solid bounce to 4,100 in the latest week.

The Tesla rival sold 15,959 in November, a fourth straight monthly decline.


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Tesla Deliveries

Tesla must deliver almost 476,000 EVs in Q4 to reach its full-year delivery target of 1.8 million. Analysts expect about 480,000 deliveries, largely due to strong Tesla China sales. Tesla weekly registrations were a hefty 18,500 in the week ended Dec. 24, up slightly from 18,300 in the week before. The EV giant has delivered 60,200 in China this month, according to registration data.

EV Stocks

BYD stock rose 4.6% to 27.68 in the final week of 2023, but after hitting a nine-month low of 24.95 on Dec. 22.

Li Auto stock surged 12.7% to 37.43 in the latest week, reclaiming the 200-day and 50-day lines. Shares have a 47.33 consolidation buy point. But LI stock has a trendline entry around 40 and a short-term high of 42.35 as another early buy area.

XPEV stock jumped 5.65% for the week to 14.59, rebounding from the 200-day line after four straight weekly declines. XPeng stock is still below its 50-day line.

NIO stock has popped 7.7% to 9.07, its fourth straight weekly gain after nearly hitting a three-year low. Shares are hitting resistance around the 200-day line.

Tesla stock fell 1.6% to 248.48 for the week, pulling back to the 21-day line on Friday. Thursday’s high of 265.13 offers a buy point from a shallow weekly handle on a double-bottom base.

Please follow Ed Carson on X/Twitter at @IBD_ECarson, Threads at @edcarson1971 and Bluesky at @edcarson.bsky.social for stock market updates and more.

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This article was originally published by a www.investors.com . Read the Original article here. .

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