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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Xpeng announced its third-quarter earnings today and held an analyst call afterwards. Here's what the company mentioned on the call.
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"Promotional activity appeared more aggressive than anticipated," Deutsche Bank said.
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Xpeng guided for fourth-quarter deliveries in the range of 59,500 to 63,500 units, meaning it expects to deliver a total of 39,498 to 43,498 vehicles in November and December.
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Li Auto's third-quarter results were somewhat mixed, with a strong outlook for fourth-quarter sales, according to Deutsche Bank.
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