Smart and Sustainable Electric Mobility
BYD had a record gross margin of 25.7 percent for its auto business in the third quarter, a 4-percentage point improvement from the second quarter.
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BYD reported a record net profit of RMB 10.41 billion in the third quarter, up 52.59 percent from the second quarter. Gross margin for the third quarter was 22.12 percent, a record high since the third quarter of 2020.
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Li Auto delivered 105,108 vehicles in the third quarter, above the upper end of its guidance range of 100,000 to 103,000 vehicles.
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Xpeng delivered 40,008 vehicles in Q3, within guidance range, with new SUV G6 contributing 48.6 percent.
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CATL's net profit fell 4.3 percent in the third quarter from the second quarter, as its share in China slipped and fell in September to a new low since April last year.
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BYD's average profit per vehicle improved by about RMB 2,700 in the third quarter from the second quarter, driven primarily by scale advantage, analysts said.
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BYD expects its net profit for the first three quarters to be RMB 20.5 billion - RMB 22.5 billion, up 120.16 percent - 141.64 percent year-on-year.
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Gotion's net profit for the first half of the year reached RMB 209 million, up 223.75 percent year-on-year.
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Nio announced its Q2 earnings today, and here are the key takeaways from the earnings call, with the latest being at the top.
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Deutsche Bank says Nio's third-quarter delivery guidance is below their expectations, which could mean that new order flow will be hard to sustain after the initial surge.
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