Name: This Tesla Rival Is 'Top Pick' As Warren Buffett Dumps More Shares Of Another Investor's Business Daily | Viral News Media Community
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This Tesla Rival Is 'Top Pick' As Warren Buffett Dumps More Shares Of Another Investor's Business Daily | Viral News Media Community

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Sign in JoinSign inSign upRegister for an accountPassword recoveryRecover your passwordyour emailSign inWelcome! Log into your accountForgot your password? Get helpCreate an accountCreate an accountWelcome! Register for an accountA password will be e-mailed to you.Password recoveryRecover your passwordA password will be e-mailed to you.FacebookInstagramTwitterYoutubeSportsSportsLifestyleMusicShareFacebookTwitterPinterestWhatsAppLinkedinReddItTumblrThe leading Tesla rivals in China are due to report EV sales for October, with startups Nio (NIO), Li Auto (LI) and XPeng (XPEV) on tap Wednesday.Chinese EV giant BYD (BYDDF) is also on deck. Tesla does not report monthly EV sales.On Tuesday, analysts at Deutsche Bank maintained XPeng stock as their “top pick” among established and startup Tesla rivals in China. Reports on Tuesday also said Warren Buffett’s Berkshire Hathaway (BRKB) further trimmed its position in BYD shares.Signs point to another strong month for the industry overall, after a robust September for China EV sales.Here is what to expect:Check back for October results.Li Auto sold 36,060 electric vehicles in September and a record 105,108 EVs for the full third quarter, up 21% from Q2.Monthly deliveries of the L7, Li L8, and Li L9 all new, premium, hybrid-electric SUVs exceeded 10,000 each in both August and September, the company said.The startup leader is set to report Q3 earnings before the U.S. market opens on Nov. 9.Li’s first all-electric vehicle, the Mega, is in the works.Shares of Tesla rival Li Auto stock tumbled 3.9% on the stock market today.Check back for October results.Nio sold 15,642 electric vehicles in September and 55,432 in Q3, up 135% quarter over quarter. Within the quarter, sales fell in August and September vs. July.The startup does not break out EV sales by its eight models. But October will mark the first full month of sales of the new, totally overhauled ES6 SUV, Nio’s top seller.Nio stock fell 3.4% on Tuesday. The Tesla rival has not yet announced an earnings date.Check back for October results.XPeng sold 15,310 EVs in September and 40,008 in Q3, up 72% quarter over quarter.The new G6 SUV made up more than half of September sales, after the company expanded production capacity, overcoming earlier issues.The startup reports Q3 earnings on Nov. 15, before the U.S. market opens.Shares of XPeng stock skidded 3.7% lower on Tuesday.“In China, where EV adoption continues to rise, XPeng remains our top pick, offering a compelling growth and margin improvement road map,” Deutche Bank analysts said Tuesday.They also pointed to recent partnerships between this Tesla rival and Volkswagen (VWAGY) and Chinese ride-hailing giant Didi (DIDI).Check back for October results.Buffett’s Berkshire continues to sell BYD stock, dumping 820,500 shares worth the equivalent of $25.78 million, Reuters reported Tuesday, citing a Hong Kong Stock Exchange filing. The Oct. 25 sale reduced its stake in BYD shares to 7.98% from 8.05%.BYD sold 287,454 EVs in September and 824,001 in Q3, up 17% quarter over quarter.In Q3, BYD sold 431,603 battery electric vehicles (also known as BEVs, or “pure” electric vehicles), just slightly less than 435,059 deliveries for Tesla.The Warren Buffett-backed Chinese EV maker is expected to outpace Tesla in BEV sales during the current fourth quarter.Most of BYD’s EV sales still come from China, but it is expanding rapidly overseas.On Tuesday, BYD began presales of the Song L, a crossover version of its top-selling electric model. That comes a day after BYD reported record profits and expanding margins for Q3.BYD stock slumped 3.8% on Tuesday. Tesla stock advanced 1.3%.Tesla’s China EV sales slumped 11% in September, according to the China Passenger Car Association, amid intensifying competition from BYD and its other challengers.In October, retail sales of passenger new energy vehicles (NEVs) in China are expected to reach around 750,000 units, up 0.9% from record high levels in September, the China Passenger Car Association (CPCA) estimates.The Chinese market for electric vehicles is likely to maintain strong growth momentum in the final quarter of 2023, industry experts say. New product launches and carmaker discounts are fueling sales.The CPCA expects 8.5 million EVs to be sold for the full year, led by Tesla rival BYD. That would be up about 31% from 6.5 million in 2022.But growth is slowing. China EV sales nearly doubled in 2022, after more than doubling in 2021.YOU MAY ALSO LIKE:These Are The 5 Best Stocks To Buy And Watch NowStocks To Watch: Top-Rated IPOs, Big Caps And Growth StocksFind The Latest Stocks Hitting Buy Zones With MarketSmithWhy This IBD Tool Simplifies The Search For Top StocksSource linkFacebookInstagramTwitterYoutubeBusinessBusinessBusinessBusinessBusinessSportsSportsLifestyleMusicAmerica NewsLifestyleEurope NewsSportsSportsTo be updated with all the latest news, offers and special announcements.America NewsAmerica NewsEurope NewsMiddle East NewsAmerica NewsBusinessBusinessBusinessBusinessBusinessFashionFashionFashionFashionFashionTechTechTechTechTechSportsSportsSportsSportsSportsFacebookInstagramPinterestRedditTumblrWordPress

Sign in JoinSign inSign upRegister for an accountPassword recoveryRecover your passwordyour emailSign inWelcome! Log into your accountForgot your password? Get helpCreate an accountCreate an accountWelcome! Register for an accountA password will be e-mailed to you.Password recoveryRecover your passwordA password will be e-mailed to you.FacebookInstagramTwitterYoutubeSportsSportsLifestyleMusicShareFacebookTwitterPinterestWhatsAppLinkedinReddItTumblrThe leading Tesla rivals in China are due to report EV sales for October, with startups Nio (NIO), Li Auto (LI) and XPeng (XPEV) on tap...

This Tesla Rival Is 'Top Pick' As Warren Buffett Dumps More Shares Of Another Investor's Business Daily | Viral News Media Community

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