Q3

Li Auto delivered 93,211 cars in the third quarter, down 39.01 percent year-on-year and down 16.08 percent from the second quarter.

In the third quarter, Nio delivered a record 87,071 vehicles, within its guidance range of 87,000 to 91,000 units.

Xpeng delivered 116,007 vehicles in the third quarter, marking its fourth consecutive quarter of record-high deliveries.

BYD's third-quarter revenue dropped 3.05 percent year-on-year, marking a rare decline in recent years.

Seres' net income for the first three quarters totaled RMB 5.31 billion, representing a 31.56 percent increase compared to the same period last year.

SAIC attributed the substantial net income growth primarily to increased sales volume and optimized costs and expenses.

CATL recorded revenue of RMB 104.2 billion in the third quarter, rising 12.90 percent year-on-year.

Zeekr Group delivered 140,195 vehicles in the third quarter, growing 12.51 percent year-on-year.

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.