Global EV Sales in September Should Reach 1 Million

New plug-in vehicle registrations rose by 60% year over year in August to 847,000 all-electric and plug-in hybrid vehicles. If, as expected, sales continue at that pace, September will become the first time ever when global sales reach 1 million plugin vehicle registrations in a single month. All-electric vehicles accounted for 11% of the global market. Including plug-in hybrids, plug-in EVs’ share of the global market totaled 15%.

August data was reported Sunday by CleanTechnica based on data from EV Volumes. Over the weekend, four China-based and one U.S.-based EV automakers reported September sales.

Tesla Inc. (NASDAQ: TSLA) reported a total of 343,830 deliveries in the third quarter, slightly below estimates ranging from 350,000 to 370,00. Including 20,000 vehicles currently in transit to their new owners, deliveries would have reached the midpoint of the estimates. Tesla produced nearly 366,000 vehicles in the quarter.

In the first quarter of the year, Tesla delivered 310,048 units, before running into production issues related to COVID-19 in China during the second quarter, when total deliveries fell to 254,695 units. So far in 2022, Tesla has delivered 908,573 units.

Nio Inc. (NYSE: NIO) reported third-quarter deliveries totaling 31,607 units, an all-time record for the company. September sales totaled 10,878, up 29.3% year over year. For the first nine months of 2022, Nio has delivered 249,504 vehicles.

Li Auto Inc. (NASDAQ: LI) reported third-quarter deliveries of 26,524 units and year-to-date deliveries totaling 211,015.

Xpeng Inc. (NYSE: XPEV) delivered 29,524 units in the third quarter, a year-over-year increase of 15%. September deliveries totaled 8,468, and Xpeng has sold 98,553 units so far in 2022, a jump of 75% year over year.

BYD Company Ltd (BYDDY), China’s largest EV maker, delivered 200,973 units in September and delivered 538,704 units during the third quarter, according to a Bloomberg report. Warren Buffett’s Berkshire Hathaway owns about 19.92% of BYD’s Hong Kong-listed shares. In the first nine months of 2022, BYD has sold 1.17 million units, a 255% year-over-year increase. BYD’s sales include all-electric, plug-in hybrids and hydrogen fuel-cell vehicles.

Toting up September sales, these five automakers sold a total of more than 575,000 units. Sales totals from giants like Ford, Volkswagen and General Motors will not be available until later in the month. It is worth remembering that there are more than 300 EV makers in China alone, some of which sell EVs for under $5,000. One million is not out of the question.

Tesla stock traded down about 5% in Monday’s premarket session at around $252.00. The stock’s 52-week range is $206.86 to $414.50, and the consensus price target on the shares is $305.34.

Nio shares traded up about 1.5%, at $16.02 in a 52-week range of $11.67 to $44.27. The consensus price target on the stock is $31.91.

Li Auto traded flat at $23.00, in a 52-week range of $16.86 to $41.49. Analysts’ consensus price target on the stock is $43.51.

Xpeng stock traded up 0.6% at $12.02. The stock’s 52-week range is $11.32 to $56.45, and the consensus price target on the shares is $31.67.

BYD closed at HK$192.00 (about $25.50). The stock’s 52-week range is HK$165.00 to HK$330.00, and the consensus price target is HK$383.25.

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