Xpeng

Xpeng's financial performance in the first quarter and its outlook for the second quarter will be weak, though the company may see a turnaround after the launch of G6, according to Edison Yu's team.

Nio's sales appear to continue to be dampened by the upcoming new ES6, as potential consumers may be waiting for this more cost-effective SUV.

CalPERS liquidated its position in Xpeng in the third quarter of 2022.

Bridgewater reduced its holdings in Nio by 40.53 percent, Xpeng by 25.98 percent and Li Auto by 54.69 percent in the first quarter.

Renaissance reduced its position in Nio by 0.16 percent, Xpeng by 98.88 percent and Li Auto by 20.44 percent during the first quarter.

Xpeng delivered 18,230 vehicles in the first quarter, slightly above the lower end of its guidance range of 18,000 to 19,000 vehicles.

Li Auto shared the numbers, saying its sales last week far outpaced those of other local new car-making brands.

The P7i, which was launched in March, continues to gather strong order momentum and the company is significantly ramping up production, which will accelerate customer deliveries in the near future, Xpeng said.

Nio sold 2,000 units last week, up from 700 the week before and 1,316 in the first week of April.

Nio's weak performance may be because it is on the eve of multiple product switches, as it will begin deliveries of the new ET7, new ES6, EC7 in May and will begin deliveries of the new ES8 in June.