Earnings

Nio will launch five models in the first half of next year, and by June there will be a total of eight available models.

Nio reported mostly soft 3Q results, especially on margin, but provided a better than-feared 4Q volume outlook.

Nio's fourth-quarter delivery guidance of 43,000 to 48,000 units means it expects cumulative deliveries in November and December to reach 32,941 to 37,941 units.

Xpeng delivered 29,570 vehicles in the third quarter, up 15.21 percent from the same period last year and down 14.10 percent from the second quarter.

"Our gross margin is meaningfully higher as we believe Nio will recognize the majority of its regulatory credit sales in 3Q, similar to last year," writes Deutsche Bank analyst Edison Yu's team.

Among Nio, Xpeng and Li Auto, Nio is usually the last to announce quarterly results, but this time it is ahead of its two peers.

BYD reported revenue of RMB 117.1 billion in the third quarter, up 115.6 percent year-on-year and up 39.8 percent from the second quarter.

The US remains Tesla's largest market, contributing 47.73 percent of revenue in the third quarter.

CATL reported a gross margin of 19.27 percent in the third quarter, which was significantly better than the 14.38 percent reported in the first quarter, although lower than the 21.85 percent in the second quarter.

Tesla reported record revenue of $21.45 billion in the third quarter, though that fell short of Wall Street consensus estimates for the first time since the third quarter of 2021.