Zeekr rose 8.2 percent to $25.6 in pre-market trading at press time.
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Category: Earnings
Nio reports generally solid first-quarter result and provided a better-than-expected second-quarter volume outlook, said Deutsche Bank.
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Nio today reported Q1 2024 financial results and held an analyst call afterwards. This article is a real-time update of the key takeaways from that call.
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Nio guided for second-quarter deliveries of between 54,000 and 56,000 units, meaning June deliveries are expected to be between 17,836 and 19,836 units.
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"XPeng delivered 1Q24 earnings upside driven by earlier-than-expected recognition of high-margin VW tech and service revenue; 2Q24 volume outlook also came in better than feared," Deutsche Bank said.
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Xpeng's gross margin rose to 12.9 percent in the first quarter, marking a new model for the company, which is generating revenue from technology on top of its EV business, its CEO said.
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Xpeng delivered 21,821 vehicles in the first quarter, up 19.7 percent year-on-year but down 63.73 percent from the fourth quarter of 2023.
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Li Auto's BEV endeavors appear to be facing structural challenges as transferring its EREV success to BEV is not so straightforward, Deutsche Bank said.
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"Li Auto delivered mostly in-line 1Q24 earnings results and 2Q24's volume outlook bracketed our forecast but pricing pressure appears much worse than anticipated," said Deutsche Bank.
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Li Auto had record weekly order growth over the Labor Day holiday in early May, its CEO said.
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