Shares of Nio Inc – ADR (NYSE:XPEV) are trading lower in sympathy with Li Auto, which fell after the company reported worse-than-expected third-quarter financial results.
What Happened?
Li Auto Inc reported quarterly losses of 18 cents per share which missed the analyst consensus estimate of a loss of 15 cents. The company also reported quarterly sales of $1.31 billion which missed the analyst consensus estimate of $1.40 billion by 6%. This is a 9% increase over sales of $1.21 billion in the same period last year.
Deliveries of Li ONEs jumped 5.6% year-over-year to 26,524 vehicles. Deliveries meanwhile fell 7.5% quarter-over-quarter…Read More
According to data from Benzinga Pro:
- NIO is trading lower by 2.68% to $13.05
- XPEV is lower by 5.12% to $11.22
