Phate Zhang

"Even if we exclude these one-time headwinds, vehicle of margin of 13.5% would have been a miss and lowest since 2Q20," Deutsche Bank said.

Nio will begin deliveries of four new models in the second quarter, including the new ES6, with a fifth model to be delivered in July.

Nio's vehicle margin was negatively impacted by 6.7 percentage points in the fourth quarter due to accelerated depreciation of production facilities and the loss of purchase commitments for older models.

By the end of February, Xpeng's cumulative deliveries since its inception stood at 269,938 vehicles, data monitored by CnEVPost show.

Li Auto's delivery guidance for the first quarter is 52,000 to 55,000 vehicles, and the latest figures mean it is on track to deliver between 20,239 and 23,239 vehicles in March.

The Model Y SUVs produced by Giga Shanghai since January 1 are equipped with an updated suspension system for improved comfort.

Deliveries of the Denza D9 EV began last week, with an executive saying at the time that the Denza received more than 10,000 new orders in February.

The Nio ET5 contributed 53 percent of the volume with 1,786 insurance registrations last week.

The first product of the F brand will be launched within the year and will focus on the off-road segment, according to local media.

If Li Auto maintains the current level of demand for the second half of the year, there would be upside to consensus estimates, according to Edison Yu's team.