Guidance

Nio is holding a second-quarter earnings analyst call, and this post is CnEVPost's live update of the main points from the call.

Nio reported a total revenue of RMB 17.446 billion ($2,400.6 million) in the second quarter, better than the RMB 17.385 billion expected by Wall Street analysts.

Wall Street expects Nio's revenue to be RMB 17.385 billion in the second quarter, exceeding the upper end of the EV maker's guidance range as deliveries unexpectedly beat guidance.

BYD's net income in the second quarter was up 98.36 percent from the first quarter, while gross margin was 18.69 percent, down 3.19 percentage points from the first quarter.

Li Auto reported second quarter results that were generally in line with expectations, with net income up 86.24 percent from the first quarter while gross margin slipping to 19.5 percent.

Xpeng reported revenues largely in line with expectations in the second quarter, with gross margin increasing sequentially for the fourth consecutive quarter and net loss narrowing slightly from the first quarter.

Deliveries of the first model of Nio's third brand, codenamed Firefly, will begin in the first half of 2025, Nio management said.

Nio guided for second-quarter deliveries of between 54,000 and 56,000 units, meaning June deliveries are expected to be between 17,836 and 19,836 units.

Xpeng's first-quarter revenue beat Wall Street estimates, gross margin rebounded further to a new high since the third-quarter of 2022, despite conservative guidance for second-quarter deliveries.

Li Auto said it won't release any all-electric SUVs this year; they'll be released in the first half of next year. It said in its last earnings call that it would release three all-electric SUVs in the second half of 2024.