tl;dr
Sales of electric passenger vehicles in China rose 10.5% year-over-year in March to 1.03M units, according to data from the China Passenger Car Association. For Q1, electric vehicle sales rose 14.7% year-over-year, which was the slowest pace seen since Q2 of 2023. Overall, new energy vehicles includ...
Sales of electric passenger vehicles in China rose 10.5% year-over-year in March to 1.03M units, according to data from the China Passenger Car Association. For Q1, electric vehicle sales rose 14.7% year-over-year, which was the slowest pace seen since Q2 of 2023. Overall, new energy vehicles including all-electric models and plug-in hybrids made up 41.5% of overall passenger car sales in March, which jumped 5.7% to 1.71M vehicles. The unit growth was sparked by discounts from automakers such as BYD Company (OTCPK:BYDDF) and government initiatives that included revising new car loan rules. Electric vehicle makers Tesla (TSLA), Volkswagen (OTCPK:VLKAF), and Nio (NIO) have also introduced new financing offers in China. Of note, Nio (NIO) announced that it opened the company's new Smart Driving Technology Center in Schönefeld, Germany, near Berlin. The center was highlighted as representing a significant step in Nio's (NIO) global strategy, enabling innovation and delivering cutting-edge Smart Driving solutions for the European market. Electric vehicle stocks with a presence in China rose in midday trading on Tuesday due to the March numbers showing some sequential momentum for the sector against lowered expectations. XPeng (NYSE:XPEV) 8.27%, Nio (NIO) 5.42%, BYD Company (OTCPK:BYDDF) 2.98%, Kandi Technologies (KNDI) 2.94%, Tesla (TSLA) 1.17%, Li Auto (LI) 1.11%. All those stocks are still in negative territory for 2024 due in a large part to concerns over margins and profitability amid an ongoing pricing war.
More about Tesla Inc
Company: Tesla Inc
Industry: Manufacturing, Motor Vehicles & Passenger Car Bodies
Revenue: $55,090,498,000
Net Income: $4.3
EBITDA: $30.49
Market Cap: $967,729,970,000
EPS: $174.97
P/E Ratio: 1.115
Dividend Yield: 0.035
More about Nio Inc Class A ADR
Nio Inc Class A ADR Summary
Nio Inc. designs, develops, manufactures, and sells smart electric vehicles in mainland China, Hong Kong, the United States, the United Kingdom, and Germany. The company is headquartered in Shanghai, China.
Industry: MANUFACTURING, MOTOR VEHICLES & PASSENGER CAR BODIES
Stock Symbol: NIO
Market Cap: 9133038000
Dividend Yield: None
P/E Ratio: None
EPS: -1.73
Price: 32.71
Change: -0.38
Volume: 55617933000
Market Cap: 15.21
Beta: 0
Volatility: 0.065
More about Xpeng Inc
Xpeng Inc Summary
Xpeng Inc. designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. The company is headquartered in Guangzhou, the People's Republic of China.
Industry: Manufacturing, Motor Vehicles & Passenger Car Bodies
NAICS Code: 7226402000
Revenue: $30,676,066,000
EBITDA: $1.539 billion
Net Income Margin: -1.59%
Operating Margin: -0.338%
Profit Margin: 14.42%
EPS: -0.385
Stock Price: $35.24
More about Kandi Technologies Group Inc
Company: Kandi Technologies Group Inc
Business Description: Kandi Technologies Group, Inc. develops, produces, and distributes electric vehicle (EV) and off-road vehicle products and parts in the People's Republic of China and internationally. The company is headquartered in Jinhua, the People's Republic of China.
Industry: Manufacturing, Motor Vehicles & Passenger Car Bodies
Market Cap: 179,084,000
Dividend Yield: 0
P/E Ratio: None
Beta (5Y Monthly): 1.569
EPS: 0.0001
Shares Outstanding: 123,599,000
Profit Margin: 5
Operating Margin: 1.137
Return on Equity: -0.262
More about Li Auto Inc
Li Auto Inc Summary Company: Li Auto Inc
Description: Designs, develops, manufactures, and sells smart electric sport utility vehicles (SUVs) in China. Headquartered in Beijing, China.
Industry: Manufacturing - Motor Vehicles & Passenger Car Bodies
Market Cap: 309.78 billion
Price/Earnings Ratio: 20.07
Dividend Yield: None
52-Week High: 125.87
52-Week Low: 0.0945
Shares Outstanding: 123.85 billion
Current Price: 52.95
Book Value: 20.9
Price/Book Ratio: 1.364
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