NIO, XPeng, Li Auto Shares Shake Off Weak Sales Data. The Outlook Seems Bright.

GENLI.ORG

Chinese new-car sales fell in January. But the shares of Chinese electric-vehicle makers NIO, Xpeng, and Li Auto have recovered from earlier, steeper losses after industry insiders said they expect a robust year for EV sales.

Sales data from the Chinese Passenger Car Association, or CPCA, show new-car sales of about 2.1 million units in January, down about 4% year over year, and down about 1% from December 2021, according to Citigroup analyst Jeff Chung.

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