Guidance

Xpeng reported a net loss of RMB 1.33 billion ($180 million) in the fourth quarter, lower than analysts' expectations of RMB 1.593 billion, but gross margins slipped slightly from the third quarter.

Li Auto will launch two all-electric SUVs this year, including the Li i8 in July and another model, the Li i6, in the second half of the year.

Li Auto guided its vehicle deliveries in the first quarter to be in the range of 88,000 to 93,000 units, below analysts' expectations of 130,914 units.

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.

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.

Li Auto reported record revenue of RMB 42.9 billion in the third quarter, beating analysts' expectations as it delivered a record number of vehicles.

In dollar terms, BYD posted revenue of $28.2 billion in the third quarter, significantly outpacing Tesla's $25.18 billion, after being essentially tied in the fourth quarter of 2023.

Tesla said it expects to achieve slight growth in vehicle deliveries in 2024 despite ongoing macroeconomic conditions.