NIO Vs. LI Vs. XPEV: Who Among The Chinese EV Maker Trio Delivered Most Vehicles In April?

• For Nio, its ES8 remained a standout performer. 
• XPeng deliveries rose month-over-month but fell year-over-year. 
• Nio stock gained the most in April, compared to the other two stocks.

Li Auto (LI) delivered the most vehicles among the three U.S.-listed Chinese EV makers in April, edging out XPeng (XPEV) and NIO (NIO).

However, all three stocks traded in the red at the time of writing, with Nio down as much as 8%, while LI and XPEV fell 1% and 2%, respectively, as Nio and Li clocked year-over-year drop in deliveries and XPeng announced a drop from March numbers.

April 2026 Delivery Figures:

Li Auto retained the top spot for the month, though deliveries slipped from March as the company prepares for the official launch of the all-new Li L9 Livis on May 15 following its debut at the 2026 Beijing Auto Show. Year-to-date through April, Li Auto delivered 129,227 vehicles, up 1.9% YoY.

XPeng came in a close second, posting its first month-over-month gain since the start of the year. However, the year-over-year decline persisted for a fourth straight month, with January–April deliveries totaling 93,693 vehicles, down 27.4% YoY.

NIO delivered 29,356 vehicles in April. The core NIO brand accounted for 19,024 units, ONVO sold 5,352, and Firefly sold 4,980 units. The company’s flagship ES8 SUV remained a standout performer. 

Nio’s cumulative January–April deliveries reached 112,821, up 71% YoY. NIO’s year-over-year growth of nearly 23% in April was the strongest of the three, underscoring the success of its brand diversification.

In contrast, NIO stock gained 6% in April, LI stock stayed flat, while XPEV stock fell 5%.

How Did NIO, XPEV, And LI Retail Traders React?

On Stocktwits, retail sentiment around NIO stayed within the ‘bearish’ territory, while sentiment around XPEV and LI trended in the ‘bullish’ territory.

A Stocktwits user opined that Nio’s Onvo brand has to continue to create interest for the company to scale monthly deliveries.

Another highlighted the overall softness in China’s auto market.

NIO stock has gained 50% over the past 12 months, while LI fell 28% and XPEV fell 14%. 

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