10:25 AM EDT, 04/01/2024 (MT Newswires) -- Chinese electric-vehicle makers on Monday reported double-digit gains in their March deliveries led by Li Auto ( LI ) , which also topped its own first-quarter distribution target.

Li Auto ( LI ) delivered 28,984 vehicles last month, climbing 39% from last year. The deliveries bolstered the company's first-quarter tally by 53% to 80,400, exceeding its previously issued guidance of between 76,000 and 78,000 units. Li Auto's ( LI ) cumulative deliveries reached 713,764 vehicles at the end of March.

"With gratitude for the trust and support of over 700,000 families, we remain dedicated to enhancing our focus on user value and continually improving our product strength and user experience," Chief Executive Xiang Li said in a statement. The EV maker's US-listed stock was up 1.5% in Monday trading.

Nio (NIO) delivered 11,866 vehicles in March, a 14% improvement on year-ago levels, comprising 6,737 of the company's electric sports utility vehicles and 5,129 sedans. That brought the first-quarter total to 30,053 vehicles, just above the 30,000 estimate it provided last week.

The automaker's cumulative deliveries were 479,647 as of March 31. Nio began distributing its 2024 ES8, ES6, EC7, EC6, and ET5T vehicle models at the beginning of last month and plans to deliver its other new ES7, ET7, and ET5 models in the ongoing second quarter.

XPeng's ( XPEV ) delivered 9,026 EV units in March, reflecting a 29% annual jump. The company delivered 21,821 vehicles in the first quarter, within the outlook range it offered in March for 21,000 to 22,500 units, up 20% from the prior-year period.

The company said it distributed 3,946 of its X9 model, with total deliveries reaching 8,000 units since its launch at the beginning of 2024. XPeng ( XPEV ) plans to unveil its new brand at the upcoming Auto China Show in Beijing later in April.

Shares of Nio and XPeng ( XPEV ) on the New York Stock Exchange rose 3.9% and 1.5%, respectively.

Price: 30.58, Change: +0.30, Percent Change: +1.00