The US stock market experienced a slight decline, with the three major indices opening lower. The Dow Jones Industrial Average (DJIA) fell by 0.21%, the Nasdaq dropped by 0.19%, and the S&P 500 decreased by 0.12%. As of the latest update, the losses have widened: the Nasdaq has dropped over 1%, slipping below the 18000 mark to 17973.34, the S&P 500 is down 0.87%, and the Dow is down 0.65%.
Notably, Chinese electric vehicle (EV) stocks opened higher, with NIO (NIO), XPeng (XPEV), and Li Auto (LI, Financial) all seeing gains of over 3%. As of the latest update, Li Auto has risen by 5.85%, NIO by 4.42%, and XPeng by 3.37%.
On October 1, several leading Chinese EV manufacturers released their delivery data for September 2024. According to NIO's announcement, the company delivered 21,181 vehicles in September 2024, marking a year-over-year (YoY) increase of 35.4%. In the third quarter of 2024, NIO delivered 61,855 vehicles, representing an 11.6% YoY increase.
Li Auto reported delivering 53,709 new vehicles in September 2024, a 48.9% YoY increase. For the third quarter of 2024, Li Auto delivered 152,831 vehicles, a 45.4% YoY increase. As of September 30, 2024, Li Auto has delivered a total of 341,812 vehicles for the year and has a cumulative delivery count of 975,176 vehicles.
XPeng also reported its latest delivery figures, achieving a record high for monthly deliveries. In September 2024, XPeng delivered 21,352 new vehicles, a 39% YoY increase and a 52% month-over-month (MoM) increase. Notably, the XPeng MONA M03 model surpassed 10,000 deliveries. From January to September 2024, XPeng has delivered a total of 98,561 new vehicles, a 21% YoY increase.
