Nio and XPeng saw deliveries of their electric cars drop in August due to the global semiconductor shortage while rival Li Auto managed to eke out growth.
Nio delivered 5,880 vehicles in August, down from 7,931 cars in July. The company also cut its third-quarter delivery forecast on Wednesday from between 23,000 to 25,000 vehicles to between 22,500 to 23,500 units. Nio blamed the "uncertainty and volatility of semiconductor supply" as theNio said, however, new orders reached an all-time high in August. The company's shares closed 0.59% lower in the U.S. on Wednesday.Hong Kong-listed shares fell 5% in Thursday trade.
"As a result, some planned deliveries of the G3 were affected in August. The Company expects to start deliveries of the G3i to start in September," XPeng said.
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