Nio announced its Q2 earnings today, and here are the key takeaways from the earnings call, with the latest being at the top.
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Category: Earnings
Deutsche Bank says Nio's third-quarter delivery guidance is below their expectations, which could mean that new order flow will be hard to sustain after the initial surge.
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Nio reported revenue of RMB 8.77 billion in the second quarter, missing market expectations of RMB 9.254 billion, compared with RMB 10.29 billion in the same period last year.
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BYD reported revenue of RMB 1,399.5 in the second quarter, the second highest on record after the fourth quarter of 2022.
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Xpeng expects G6 deliveries to ramp up significantly in September, driving the company's monthly deliveries to over 15,000 units.
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Xpeng reported second-quarter earnings today, and Deutsche Bank analyst Edison Yu's team provided their first impressions.
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Xpeng (NYSE: XPEV) saw a rebound in revenue in the second quarter, but gross margins fell back into negative territory and net losses widened.
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Deutsche Bank expects Nio to report revenue of 9.1 billion yuan in the second quarter, in line with current consensus estimates.
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Deutsche Bank expects Xpeng to report mixed results for the second quarter, while the outlook for the third and fourth quarters will show meaningful sequential improvement driven by a strong G6 order book.
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Li Auto expects third-quarter vehicle deliveries to be in the range of 100,000 to 103,000 units, implying year-on-year growth of 277.0 percent to 288.3 percent.
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