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“Promotional activity appeared more aggressive than anticipated,” Deutsche Bank said. Xpeng (NYSE: XPEV) reported third-quarter earnings today, and as usual, Deutsche Bank analyst Edison Yu’s team shared their first look. Here’s what came out of the team’s research note. XPeng delivered somewhat mixed results and guidance albeit against rising investor expectations recently. Deliveries for 3Q23 were already reported at 40,008 units, leading to revenue of 8.5bn RMB vs. consensus/DBe 8.6/8.8bn, hurt by lower than expected ASP. Gross margin remained weak, increasing only 120bps QoQ to -2.7%, missing our 0.8% estimate, driven by lower vehicle margin of -6.1% vs. our -1.9%.…
Xpeng guided for fourth-quarter deliveries in the range of 59,500 to 63,500 units, meaning it expects to deliver a total of 39,498 to 43,498 vehicles in November and December. Xpeng (NYSE: XPEV) posted third-quarter revenue that was slightly below Wall Street’s expectations, with gross margin remaining negative as vehicle margin seeing only a modest improvement. The Chinese electric vehicle (EV) maker reported revenue of RMB 8.53 billion ($1.17 billion) in the third quarter, slightly below market expectations of RMB 8.58 billion. That was up 25 percent year-on-year and up 68.48 percent from the second quarter, and sits near the lower…
Despite Tesla’s long-awaited Cyberquad electric ATV likely still having a long wait ahead of us, it’s actually been two years since the company rolled out a smaller version designed for young riders. But after a Consumer Product Safety Commission recall put the kibosh on the original version, Tesla has returned with an updated model that managed to avoid the same laws that quashed the original. The Cyberquad for Kids may look like a Tesla, but it was in fact created from a partnership between Tesla Design Studio and the popular children’s toy maker Radio Flyer. The original model proved incredibly…
Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News! There’s one proven way to get people to love electric cars — put them behind the wheel of electric cars. So, when it comes to getting an auto company’s many employees onboard with EVs, and better understanding the benefits of EVs, there has been one particularly useful tool — making company cars electric cars. Automaker employees are better at evangelizing, designing electric cars, and working through the challenges that come from the switch to electric cars if they drive electric company cars. So, it…
Toyota on Tuesday night introduced yet another new crossover SUV, and it appears to test just how many ways the automaker can divvy up what’s become the heart of the American vehicle market. The 2025 Toyota Crown Signia is a five-seater that’s hybrid-only, with all-wheel drive across its lineup. The interior looks very roomy, and Toyota notes that the second-row seating folds flat to allow a 6.5-foot-long cargo area. Back there, the Signia includes a tonneau cover and aluminum scuff plate as part of a rear deck “made for an active lifestyle.” 2025 Toyota Crown Signia Specs haven’t been released…
Making the Camry all-hybrid is a big move. Alongside shifting preferences toward SUVs and pickups, the Camry has kept its crown as the bestselling car in the U.S. for decades. Going all-hybrid says much about Toyota’s level of confidence in its hybrid system and the role it serves to play in the immediate future. Right now, the outgoing Toyota Camry holds tight to mass-market hooks. It’s been the last affordable midsize sedan to offer a V-6 engine, so the move marks an especially abrupt change. But with this redesign, you can get the new 2025 Toyota Camry hybrid with all-wheel…
Nio has started recruiting dealership partners for the Nio brand and a sub-brand, in what appears to be a move aimed at reducing expenses while expanding sales network. (A screenshot from the Nio App) Nio (NYSE: NIO) has begun recruiting dealership partners, following moves by its local peers including Xpeng (NYSE: XPEV) that appear aimed at reducing expenses as it expands its sales network. A poster today showed it’s recruiting sites for experience centers for both the main Nio brand and “Nio’s strategic new brand.” The company doesn’t mention “dealers” directly and the wording in Chinese is about recruiting sites…
Buyers expecting to make a quick buck by flipping Tesla’s hotly anticipated Cybertruck were met with some bad news earlier this week. Updated terms of service on Tesla’s website were revealed to include a Cybertruck-only clause in the order agreement that grants the automaker first right of refusal to purchase any truck sold up to a year after the original owner takes delivery – else a $50,000 penalty for anyone who resells their Cybertruck without Tesla’s explicit permission. But on Tuesday, the entire section threatening legal action against future Cybertruck owners has been removed from Tesla’s U.S. Cybertruck Motor Vehicle Order…
Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News! Great Wall Motor South Africa unveiled the full lineup of the Ora Good Cat’s range in Johannesburg. The Good Cat is known as the Funky Cat in the UK and several other markets, but Great Wall Motor has gone with “Ora 03” in South Africa. This is also the name used by Great Wall Motor in Brazil, Nepal, and some other places. Here is the full list of the models available in South Africa: Starting from the equivalent of $37,610, the Ora 03 becomes…
It is not easy to get a very accurate estimated range readout in any electric vehicle on the market today because so many factors need to be taken into consideration, some of which can be a bit more difficult to predict. Nevertheless, it’s important for automakers to offer accurate range prediction in their EVs if they want people to trust the technology and not be overcome by range anxiety upon realizing that the range estimate shown by their vehicle is overly optimistic in real-life conditions. Tesla is working on perfecting its range prediction tools and has listed all the factors…