Chinese EV Names Jump In Hong Kong As Tesla Scraps Discount For Chinese Model Y
Portfolio Pulse from Daniel Harrison
Chinese EV makers saw a rise in their stock prices after Tesla scrapped a discount on its Model Y in China. Xpeng, Li Auto, and Nio saw increases of 4%, 3%, and 2% respectively. Tesla's move is seen as a step towards profitability in the Chinese market, where it competes with these companies. This comes after Tesla's Q3 earnings fell short of expectations, with a 32.8% MoM sales decline in China. Meanwhile, BYD, another competitor, expects to increase its net profit by 67% to 102% in Q3.
October 27, 2023 | 4:05 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
BYD expects to increase its net profit by 67% to 102% in Q3. The company is currently trading at a significant discount to its rival Tesla.
BYD's expected increase in net profit could be a positive signal for investors, potentially driving the stock price up. The fact that it's trading at a discount to Tesla could make it an attractive investment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Li Auto's stock price increased by 3% following the news of Tesla scrapping its Model Y discount in China.
The news of Tesla scrapping its Model Y discount in China is seen as a positive for Li Auto, as it could reduce price competition and potentially increase Li Auto's market share.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Nio's stock price increased by 2% following the news of Tesla scrapping its Model Y discount in China.
The news of Tesla scrapping its Model Y discount in China is seen as a positive for Nio, as it could reduce price competition and potentially increase Nio's market share.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Xpeng's stock price increased by 4% following the news of Tesla scrapping its Model Y discount in China.
The news of Tesla scrapping its Model Y discount in China is seen as a positive for Xpeng, as it could reduce price competition and potentially increase Xpeng's market share.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla's decision to scrap the Model Y discount in China is seen as a move towards profitability. However, the company's Q3 earnings fell short of expectations with a 32.8% MoM sales decline.
Tesla's decision to scrap the Model Y discount is seen as a move towards profitability, which could be positive for the company. However, the recent Q3 earnings report showing a significant sales decline could negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100