Updated Aug. 1, 2022 7:10 am ET / Original Aug. 1, 2022 5:13 am ET
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Demand for Chinese electric vehicles cooled off in July. Falling EV sales in the world’s largest car market could be scary for investors, including Tesla investors. But investors looked pleased with early numbers. They seem to have been ready for typical summer selling patterns.
Chinese EV makers on Monday reported July delivery figures. XPeng (ticker: XPEV) delivered 11,524 vehicles in July, up 43% from a year earlier. That’s down from 15,295 vehicles delivered in June. For the second quarter, XPeng delivered 34,422.