Nio, XPeng And Li Auto Shares Are Trading Lower: What's Going On?
Portfolio Pulse from Adam Eckert
Shares of China-based EV makers NIO Inc, XPeng Inc, and Li Auto Inc are trading lower following Tesla Inc's weak Q3 financial results. Tesla missed analyst estimates on both revenue and earnings per share, with lower average selling prices impacting top-line results. Tesla's disappointing results and price cuts, especially in China, are affecting other EV companies in the world's biggest EV market.
October 19, 2023 | 1:29 pm
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NEGATIVE IMPACT
Li Auto's shares are trading lower due to Tesla's weak Q3 results and price cuts in China.
Li Auto, being a China-based EV maker, is directly affected by Tesla's actions in the Chinese market. Tesla's weak Q3 results and price cuts are intensifying competition, leading to a decrease in Li Auto's share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NIO's shares are trading lower due to Tesla's weak Q3 results and price cuts in China.
NIO, being a China-based EV maker, is directly affected by Tesla's actions in the Chinese market. Tesla's weak Q3 results and price cuts are intensifying competition, leading to a decrease in NIO's share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla's shares may be affected by its weak Q3 results and concerns about consumer willingness to purchase vehicles in the current high interest rate environment.
Tesla's weak Q3 results, lower than expected production due to factory upgrades, and concerns about consumer willingness to purchase vehicles in the current high interest rate environment may negatively impact its share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
XPeng's shares are trading lower due to Tesla's weak Q3 results and price cuts in China.
XPeng, being a China-based EV maker, is directly affected by Tesla's actions in the Chinese market. Tesla's weak Q3 results and price cuts are intensifying competition, leading to a decrease in XPeng's share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80