© Xpeng Inc. Shares of Nio (NYSE:NIO | NIO Price Prediction), Li Auto (NASDAQ:LI), and Xpeng (NYSE:XPEV) are all trading higher Wednesday morning after each posted March delivery figures, while Tesla (NASDAQ:TSLA) ticks up modestly ahead of its own Q1 report. The Chinese EV trio is riding a strong end-of-quarter rebound, with March delivery figures confirming the momentum. Nio shares are up 4% to more than $6, Li Auto is up 6% to around $19, and Xpeng has added 3% to roughly $17.50. Tesla stock, meanwhile, is up but only by 1% to $376 and change. Today, Tesla’s story today is about managing expectations rather than celebrating beats. All three Chinese EV makers rebounded sharply in March after a weak February disrupted by the extended Lunar New Year holiday. The results highlight a growing divergence: Nio and Li Auto are gaining momentum while Xpeng faces year-over-year headwinds. You can about five companies quietly eating Tesla’s lunch in 2026 for broader context on the competitive shift. Nio Beats Its Own Guidance With a Blowout March Nio delivered 83,465 total units in Q1 2026, beating its own guidance range of 80,000 to 83,000 vehicles. March alone accounted for 35,486 vehicles, up 136% year-over-year, with the breakdown showing 22,490 Nio brand units, 6,877 Onvo vehicles, and 6,119 Firefly cars. Q1 deliveries surged 98.3% year-over-year, and cumulative deliveries surpassed 1.08 million as of March 31, 2026. Nio’s multi-brand strategy across Nio, Onvo, and Firefly is delivering results, with Q1 deliveries up 98.3% year-over-year and cumulative deliveries surpassing 1.08 million as of March 31, 2026. Nio stock is up 14% year-to-date through March 31 and has climbed 64% over the past year. Retail sentiment on Stocktwits flipped to “bullish” from “bearish” following the delivery report, adding a momentum signal to the fundamental catalyst. Li Auto Recovers Steadily, Buyback Adds Confidence Li Auto posted 41,053 March deliveries, up from 36,674 units in the prior year period. The improvement was driven by resolved production bottlenecks, with the Li i6 surpassing 24,000 monthly deliveries after earlier supply constraints eased. The company also approved a $1 billion share buyback program running through March 2027, a signal of financial confidence backed by $8.1 billion in cash on hand. Li Auto showcased next-generation AI-driven driving technology at NVIDIA GTC 2026, keeping it visible in the autonomous driving conversation. The upgraded Li L9 is set to launch in Q2 2026 with improvements to powertrain and autonomous driving. Li Auto stock is up 9% year-to-date, a respectable performance. Retail sentiment on Stocktwits turned “bullish” from “neutral” on the delivery news. Xpeng Surges Month-Over-Month but Trails Last Year Xpeng delivered 27,415 units in March, up 80% from the previous month. The sequential rebound is notable, but the year-over-year picture is more complicated: March deliveries were lower than the 33,205 units delivered in March last year. Q1 2026 total deliveries came in at 62,682 vehicles, down from 94,008 units a year earlier. Xpeng is expanding geographically to offset domestic pressure, having unveiled a three-year strategy for Latin America and officially entered the Mexican market, with plans to introduce pure electric models there in 2027. XPEV stock is down 17% year-to-date even with today’s gains. Retail sentiment for XPEV remained in “bearish” territory over the past 24 hours, reflecting the mixed delivery picture despite the premarket bounce. Tesla Ticks Higher but Q1 Delivery Report Looms Tesla stock is trading higher this morning, but the context is cautious. According to a Reuters poll, Tesla is projected to deliver 368,900 vehicles in Q1 2026, representing a decline of 11.8% sequentially but a gain of 9.6% year-over-year. The prediction markets align with that range: the 350,000 to 375,000 delivery bracket carries an 85.5% implied probability on Polymarket. Analyst Trip Chowdhry recently issued a sell recommendation on TSLA stock with a $150 price target for 2026, warning that Tesla’s AI narrative has collapsed. That call drew sustained discussion on Reddit’s r/stocks, with the post accumulating 377 upvotes and an upvote ratio of 0.94 in the days leading up to today. TSLA stock is down 16.5% year-to-date. The actual Q1 delivery report hasn’t yet been released as of this writing. Watch for Tesla’s imminent official delivery announcement, which could provide the clearest signal for where TSLA stock heads next. About the Author