BYD's average profit per vehicle fell by about RMB 1,400 in the fourth quarter from the third quarter, mainly due to promotions through discounts and incentives offered to dealers, a team of analysts said.
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In the fourth quarter, Tesla's revenue from China was a record $6.1 billion, or 24.25 percent of its total revenue.
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BYD achieved a significant improvement in earnings, demonstrating strong resilience despite tougher competition in the industry, the company said.
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Gotion said further reductions in raw material costs and the introduction of Volkswagen's management system have helped it improve efficiency.
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Tesla said its vehicle volume growth rate in 2024 could be notably lower than in 2023 as the team works to roll out next-generation vehicles at its Texas plant.
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Nio reported third-quarter results that were results largely as previewed and gave a better-than-feared outlook for the fourth quarter, said Edison Yu's team.
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Nio Day 2023 will be held on December 23 in Xi'an, Shaanxi province, Northwest China, where Nio will unveil a new flagship model.
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Nio (NYSE: NIO) reported third-quarter revenue of RMB 19.07 billion, up 46.64 percent year-on-year and 117.36 percent from the second quarter.
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Steps being taken by Nio should bear fruit in the coming quarters, but a material improvement in the sales trajectory may take more time, Edison Yu's team said.
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Nio delivered 55,432 vehicles in the third quarter, slightly above the lower end of the guidance range of 55,000 to 57,000 vehicles.
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