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Continue reading Why the new 2024 BMW i5 looks just like the new 5 Series
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Continue reading Honda back to F1 in 2026 as engine supplier to Aston Martin
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The price is cheaper then previous generation.
The post Nio launched the 2023 ES6 SUV, for 52,200 USD. 150 kWh semi-solid battery version available in July appeared first on CarNewsChina.com.
"XPeng delivered even softer 1Q23 results than we previewed, accompanied by a muted 2Q outlook," Edison Yu's team said.
XPeng (NYSE: XPEV) reported weaker-than-expected first-quarter earnings today, and as usual, Deutsche Bank analyst Edison Yu's team provided their first look.
Here is the research note the team sent to investors today.
1Q23 Earnings First Look
XPeng delivered even softer 1Q23 results than we previewed, accompanied by a muted 2Q outlook.
Volume for 1Q was already reported at 18,230 units, leading to revenue of 4.03bn RMB, essentially in line with our 4.04bn estimate; vehicle pricing was slightly lower, offset by "Services and other."
Total gross margin declined 700bps QoQ to just 1.7%, missing our 5.0% estimate (consensus 6.1%), driven by lower vehicle margin (-2.5% vs. our 0.4% due to aggressive price cuts/promotions).
Opex of 2,654m came in below our model as higher R&D was offset by lower SG&A.
All together, EPS of (2.57) came in about in line with our (2.52) forecast.
Management provided a muted 2Q23 outlook, calling for 21,000-22,000 deliveries, vs. our 24,000 forecast, translating into 4.5-4.7bn RMB in revenue (vs. our 5.6bn).
This implies May/June seeing little to no MoM improvement as April garnered 7,079 units and pricing/mix facing further pressure (G9 demand still struggling and P7i constrained by component supply).
On the earnings call, we will look for further commentary on the exact timing of G6 deliveries (SOP seemingly has already begun), pricing, and volume expectations.
XPeng Q1 earnings miss expectations, gross margin falls to 1.7%
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NIO is holding a launch event for the new ES6 in China, and this article is a live update from CnEVPost based on a live video stream.
NIO (NYSE: NIO) is holding a launch event for the new ES6 in China, and the following is a live update from CnEVPost based on a live video stream.
This post will be continuously updated until the end of the launch, with the latest content at the top.
NIO will open the City NAD function in a small scope in Shanghai in the near future.
The new ES6 comes standard with 23 safety and driver assistance features.
The new ES6 has a range of 490 km with the 75-kWh standard range battery pack and 625 km with a 100-kWh pack.
The new NIO ES6 can get a range of 930 km when equipped with the 150-kWh battery pack.
NIO's 150-kWh semi-solid-state battery pack will be available for use in July.
NIO develops these parts in-house because it can respond to user feedback more quickly.
The new ES6 is equipped with NIO's intelligent chassis controller, third generation continuous damping control system.
All of NIO's cars are built to the highest safety standards, said Li.
The new ES6 can accelerate from 0 to 100 km/h in 4.5 seconds under half-load conditions.
The new NIO ES6 is equipped with NIO's in-house developed high-performance 4-piston calipers, allowing the vehicle to brake from 100 km/h to stop in as short a distance as 34.5 meters.
The NIO ES6 will be known as the EL6 in Europe (because of the lawsuit by Audu).
The new NIO ES6 will be available in 10 exterior colors.
NIO invited several users to jointly present the new ES6 at the launch event, including an architect and an automotive media reporter, the first time it has done so for a new car launch.
William Li, Founder, Chairman and CEO of NIO, began his presentation.
NIO pins high hopes on new ES6 with unprecedented delivery efficiency and marketing campaign
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