Earnings

CALB expects its net income to rise about 80 percent to 100 percent in 2024 from 2023 on the back of growth in business scale and lower costs.

The Zeekr brand delivered 79,250 vehicles in the fourth quarter of 2024, an increase of 99.84 percent year-on-year and up 44.08 percent over the third quarter.

The automotive business was the main reason for Tesla's weaker-than-expected earnings, as incentives were more intense than expected.

CATL's net income in the fourth quarter is expected to be a record RMB 17 billion, up 31.01 percent year-on-year and up 29.41 percent from the third quarter, CnEVPost calculations show.

Great Wall Motor's net income in 2024 is expected to range from RMB 12.4 billion ($1.7 billion) to RMB 13.0 billion, an increase of 76.60 percent to 85.14 percent from 2023.

Leapmotor attributes this to continued volume growth, product mix optimization, cost control and operational efficiency.

Nio is confident of doubling sales next year and aims to be profitable by 2026. The third brand is officially named Firefly and its first model will begin deliveries in the first half of 2025.

Nio reported weaker-than-expected revenue in the third quarter, which was also below its guidance range. It reported a net loss that was flat from the second quarter, with gross margin improving to 10.7 percent.

Xpeng reported revenue of RMB 10.1 billion in the third quarter, with a record gross margin of 15.3 percent, beating analysts' expectations.

In the third quarter, Xiaomi's innovative business, which includes EVs, had a gross margin of 17.1 percent and an average vehicle sales price of RMB 238,650.