Nio Stock, China EV Stocks Reverse Despite Strong March Sales Despite Chip Shortages
Nio andXpeng reported monthly and Q1 sales numbers on Thursday, withLi Auto releasing figures on Friday.BYD Auto is expected to follow in the coming days. Nio stock and other EV stocks turned lower Monday.Nio deliveries for March were 7,257, up 373% vs. a year earlier and 30% vs. February, when weeklong Lunar New Year holidays affected sales and production. Q1 sales were 20,060. Last week, Nio said it would halt production for five days starting March 29, citing chip shortages. It also trimmed i
Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.
The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.Numbers will matter even more for richly valued, high-growth companies such as Tesla. Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors and Ford Motor have taken unexpected plant downtime recently and