Key Highlights
- NIO’s May deliveries reached 37,705 units, marking a 62% increase compared to last year, fueled by strong SUV demand
- XPeng shipped 32,158 vehicles in May, showing a 4% monthly gain but a 4% annual decline
- Li Auto’s May deliveries totaled 33,350 units, representing a 6% year-over-year decrease
- The trio collectively delivered 103,213 vehicles last month, marking a 6% annual increase
- In overseas markets, NIO shares jumped 6.7% while XPeng gained 6.2% on Monday
On June 1, three major Chinese electric vehicle manufacturers unveiled their May delivery statistics, triggering share price gains in international markets as investors responded positively to indications of a rebound in China’s EV sector.
NIO emerged as the clear winner, shipping 37,705 vehicles during May—representing a year-over-year surge of 62.3% and a monthly improvement of 28.4% from April. The automaker’s stock advanced 6.7% and has accumulated a 61% gain over the trailing twelve months.
NIO’s May performance spanned its three distinct brands: the flagship NIO brand contributed 20,013 vehicles, ONVO added 12,029 units, and Firefly accounted for 5,663 deliveries. Through the first five months of the year, cumulative deliveries hit 150,526 units, climbing 68.7% versus the prior-year period.
The impressive performance stemmed primarily from robust consumer appetite for the recently introduced ONVO L80 SUV alongside the ES8, which has maintained its position as the segment’s best-selling model for five consecutive months. NIO further expanded its portfolio by unveiling the ES9 executive SUV on May 27, with customer deliveries commencing immediately thereafter.
To achieve its second-quarter delivery target of 112,500 vehicles, NIO must ship approximately 45,000 units during June. This would translate to over 80% year-over-year growth for that month alone.
XPeng Posts Sequential Growth Amid Annual Headwinds
XPeng reported 32,158 vehicle deliveries for May, reflecting a 4% uptick from April but falling 4% short of May 2025 levels. Shares climbed 6.2% in international trading, although the stock remains 11% below its position from a year ago.
XPeng’s second-quarter projection targets approximately 103,000 vehicles, requiring roughly 40,000 June deliveries. This would represent about a 15% year-over-year increase.
The manufacturer also highlighted that its electric vehicles delivered during the January-through-May period are projected to reduce lifecycle greenhouse gas emissions by over 2 million tons when compared to traditional internal combustion engine vehicles.
Li Auto Struggles with Ongoing Sales Pressure
Li Auto recorded the weakest performance among the three competitors, delivering 33,350 vehicles in May—down 2% sequentially from April and 6% below May 2025 figures. Its stock managed only a modest 1.2% gain in overseas trading and has plunged 48% over the past twelve months.
To satisfy its second-quarter guidance of approximately 97,500 vehicles, Li Auto requires about 30,000 June deliveries. This target would represent a 17% year-over-year decline.
Broader Industry Perspective
Collectively, the three manufacturers shipped 103,213 vehicles during May, achieving a 6% year-over-year advancement. This growth emerges against a backdrop of challenging market conditions, as China’s overall new vehicle sales contracted roughly 7% during the first quarter of 2026, based on data from Citi analyst Jeff Chung.
S&P 500 and Dow Jones futures advanced 0.3% and 0.5% respectively during Monday morning trading.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
