EV Delivery Results for Q1 2025: Key Insights and Trends

Major players in the electric vehicle (EV) market, including Tesla TSLA, Rivian Automotive RIVN, and the Chinese companies NIO Inc. NIO, Li Auto LI, and XPeng Inc. XPEV, have released their delivery figures for the first quarter of 2025. Here’s a detailed overview of their performance.

Tesla’s Performance: Deliveries Fall Short of Expectations

In the first quarter of 2025, Tesla delivered 336,681 cars globally, comprised of 323,800 Model 3/Y and 12,881 other models. This figure fell short of analysts’ expectations of 378,000 units, marking Tesla’s lowest quarterly results in over two years. Deliveries declined from 495,570 units in Q4 2024 and 386,810 in Q1 2024. A contributing factor to this decrease was the need to retool factories for the new version of the Model Y SUV. Additionally, growing anti-Musk sentiment has likely impacted sales.

During the same period, Tesla produced 362,615 vehicles, including 345,454 Model 3/Y and 17,161 other models. While the automotive segment faced challenges, Tesla’s energy generation and storage business showed strong growth, deploying 10.4 GWh of energy storage—a remarkable 156% year-over-year increase. Currently, Tesla stock holds a Zacks Rank #3 (Hold).

Rivian’s Mixed Results and Future Plans

Rivian produced 14,611 vehicles at its Normal, IL plant in Q1 2025, up from 13,980 units the previous year. However, deliveries declined to 8,640 vehicles, down from 13,588 last year. These figures align with Rivian’s forecast, targeting production of around 14,000 vehicles and deliveries of approximately 8,000. The company has reaffirmed its delivery goal for 2025, projecting totals between 46,000 and 51,000 vehicles. This suggests slow growth as demand for its premium R1 models appears stagnant. Looking ahead, Rivian plans to launch the R2, a compact crossover priced around $45,000, in 2026, which may reinvigorate interest in the brand. Rivian stock is rated Zacks Rank #4 (Sell).

NIO’s Strong Year-Over-Year Growth

NIO reported 15,039 vehicle deliveries in March 2025, marking a 26.7% year-over-year increase. For Q1 2025, NIO delivered a total of 42,094 units, which signifies a 40.1% growth compared to the same period last year. Cumulative deliveries reached 713,658 units as of March 31, 2025. Notably, NIO began deliveries of its flagship NIO ET9 by the end of March 2025, contributing to its robust performance. A strong vehicle lineup, including the ES6, ET5T, and ES8 models, recently boosted deliveries, with the launch of the NIO 89 sedan in December 2024 generating significant interest. Currently, NIO stock carries a Zacks Rank #4.

XPeng’s Impressive Growth and Global Expansion

XPeng achieved 33,205 deliveries in March, showing a 268% increase year-over-year, exceeding the 30,000 unit mark for five consecutive months. Total Q1 2025 deliveries reached 94,008 smart EVs, a 331% increase compared to the last year. XPeng launched the 2025 versions of the XPENG G6 and XPENG G9, equipped with advanced AI features. The company also reported a penetration rate of 86% for its XNGP smart driving technology in urban settings. As part of its global strategy, XPeng has entered the Indonesian market and is focused on expanding its reach to 60 countries by 2025. Currently, XPeng stock holds a Zacks Rank #2 (Buy).

Li Auto’s Steady Performance and Supercharging Expansion

Li Auto delivered 36,674 units in March 2025, a 26.5% increase compared to the previous year, and achieved 92,864 deliveries in Q1 2025, a 15.5% rise. Cumulative deliveries for Li Auto reached 1,226,736 units as of March 31, 2025. The company also operates 500 retail locations across 150 cities, alongside extensive service and charging networks. In February, Li Auto revealed images of its new all-electric SUV, the Li i8, which follows the Li Mega MPV. The company aims to expand its supercharging network significantly, targeting over 1,200 stations by the end of 2025. Currently, Li Auto stock is rated Zacks Rank #3.

Market Overview and Future Prospects

The table below illustrates price movements for major EV companies over the past week and the last six months.

Image Source: Zacks Investment Research

Looking Ahead in the EV Market

Keep an eye out for announcements regarding new EV models and other key updates from this rapidly evolving industry.

Zacks Research Highlights Potential Stock Surges

Zacks experts have identified five stocks with the potential to gain over 100% in the coming months, highlighting one stock as particularly promising. This top pick showcases strong innovation and a fast-growing customer base. Zacks advises keeping watch on this stock as it may outperform previous top picks significantly.

For more information on these EV companies, reports on Tesla, NIO, Li Auto, XPeng, and Rivian are available through Zacks Investment Research.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.