Nio has cut its delivery forecast for the third quarter due to ‘uncertain and volatile’ semiconductor supplies.

Details: The top Chinese electric vehicle maker has reduced its delivery forecast for the third quarter from previous 23,000 to 25,000 vehicles to approximately 22,500 to 23,500 vehicles. It delivered 5,880 electric sports-utility vehicles last month, up 48% from a year earlier.

Li Auto, which sells extended-range electric vehicles, said it sold 9,433 vehicles last month, up 248% from a year earlier. It targets 10,000 units in monthly sales in September.

Xpeng sold 7,214 cars in August, up 172% year-on-year. CEO He Xiaopeng said the company expects monthly deliveries to reach 15,000 units in the final quarter this year.

Context: In April, Nio has cut monthly production by 25% due to the global shortage, saying it expected production levels to return to their previous level during the third quarter of 2021. 

But the pandemic has brought huge challenges to the global supply chain. "The shortage was unlikely to resolve soon as the pandemic rages on in many parts of the world, China's top auto industry body said last month.