Key Highlights
- NIO’s May deliveries totaled 37,705 vehicles, marking a 62% increase compared to last year, fueled by fresh SUV models
- XPeng’s monthly deliveries reached 32,158 units, showing 4% growth from April but a 4% decline annually
- Li Auto shipped 33,350 vehicles in May, representing a 6% drop from the previous year
- The trio of EV manufacturers collectively delivered 103,213 units in May, reflecting a 6% annual increase
- In Monday’s overseas trading, NIO stock gained 6.7% while XPeng advanced 6.2%
On June 1, three major Chinese electric vehicle manufacturers released their May delivery statistics, triggering upward momentum in their stock prices during overseas trading sessions as market participants interpreted the data as evidence of a strengthening Chinese EV sector.
NIO emerged as the standout performer, recording 37,705 vehicle deliveries throughout May—representing a remarkable 62.3% increase compared to the same month last year and a 28.4% improvement over April’s figures. The company’s shares climbed 6.7%, bringing its 12-month gain to 61%.
The May delivery figures for NIO were distributed across its three distinct brands: 20,013 vehicles under the NIO brand, 12,029 ONVO models, and 5,663 Firefly units. For the year through May, NIO’s cumulative deliveries hit 150,526 vehicles, representing a 68.7% surge versus the corresponding timeframe in 2025.
The impressive performance was primarily attributed to robust consumer interest in the recently introduced ONVO L80 SUV alongside the ES8, which has maintained its leadership position in its market segment for five consecutive months. On May 27, NIO unveiled its ES9 executive SUV, with customer deliveries commencing immediately the following day.
For NIO to achieve its second-quarter delivery target of 112,500 vehicles, the company must ship approximately 45,000 units during June. This would translate to more than 80% year-over-year growth for that month.
XPeng Records Monthly Progress Despite Year-Over-Year Shortfall
XPeng reported May deliveries of 32,158 vehicles, achieving a 4% sequential increase from April, though falling 4% short of May 2025 levels. The stock appreciated 6.2% in overseas markets, even as shares remain 11% lower over the trailing 12 months.
XPeng’s Q2 projection anticipates approximately 103,000 vehicle deliveries, which requires the company to achieve roughly 40,000 units in June. This would mark about a 15% year-over-year increase.
The manufacturer also highlighted that its electric vehicles delivered from January through May are projected to reduce lifecycle greenhouse gas emissions by over 2 million tons when compared to traditional internal combustion engine vehicles.
Li Auto Struggles as Delivery Volumes Continue Downward Trend
Li Auto posted the most subdued performance among the three, with May deliveries of 33,350 vehicles—down 2% from April and 6% below May 2025 levels. Its stock registered a modest 1.2% uptick in overseas trading and has declined 48% over the past year.
To satisfy its second-quarter forecast of approximately 97,500 vehicles, Li Auto requires around 30,000 deliveries in June. That figure would represent a 17% year-over-year decrease.
Industry Overview
Collectively, the three manufacturers achieved 103,213 deliveries in May, reflecting a 6% year-over-year expansion. This development unfolds against the backdrop of China’s overall new vehicle sales declining approximately 7% during the first quarter of 2026, based on analysis from Citi analyst Jeff Chung.
S&P 500 and Dow Jones futures registered gains of 0.3% and 0.5% respectively during Monday morning trading.
