GUANGZHOU, China – Nio and Xpeng shipments declined in August as chip shortages and supply chain restrictions hit Chinese electric vehicle manufacturers.
Li Auto was the only one of the three companies that grew month on month.
Nio delivered 5,880 vehicles in August, up from 7,931 in July. The company also lowered its delivery forecast for the third quarter from 23,000 to 25,000 vehicles to 22,500 to 23,500 units on Wednesday. Nio blamed the “uncertainty and volatility of the semiconductor supply” for the fact that the global chip shortage persists.
However, Nio said orders reached an all-time high in August. The company’s shares closed 0.59% lower in the US on Wednesday.
Xpeng said it shipped 7,214 vehicles in August, up from 8,040 in July. Hong Kong-listed shares of Xpeng fell 5% in Thursday’s trading.
During the month, the company began converting production of its G3 Sports Utility Vehicle to the G3i, an updated version of the car, at its plant in Zhaoqing, southern China.
“As a result, some planned deliveries of the G3 in August were affected. The company expects shipments of the G3i to begin in September, ”said Xpeng.
In a conference call last month, He Xiaopeng, CEO of Xpeng, said supply chain challenges such as semiconductor shortages remain the “biggest manufacturing hurdle” for the company.
The CEO also said he expected monthly delivery volume could hit 15,000 in the fourth quarter, which would be more than double the August figure.
Meanwhile, Li Auto announced in August that it had shipped 9,433 units of its Li ONE car, the only model it has on the market. That is 9.8% more than in July.
Li Auto’s Hong Kong-listed shares lost 2% in afternoon trading on Thursday.
By August 31, Nio had shipped 55,767 cars, Xpeng had shipped 45,992 vehicles, and Li Auto had shipped 48,176 units.
The global shortage of chips continues to hit automakers. Tesla CEO Elon Musk said the company will postpone delivery of its new roadster until 2023.