Stock Track | Li Auto Shares Plunge as Q3 Profit Slips on Price Competition

Stock Track11-01

Shares of Chinese electric vehicle maker Li Auto plummeted over 8% on Thursday, after the company reported a slight decline in profit for the third quarter despite higher revenue, as lower selling prices weighed on earnings.

Li Auto said its net profit fell 0.3% to 2.81 billion yuan ($395 million) in the third quarter, despite a 24% increase in revenue to 42.87 billion yuan. The company cited intense price competition and lower average selling prices as factors that pressured its gross margins, which declined to 21.5% from 22% a year earlier.

The Beijing-based EV maker has been facing intense competition from rivals like Huawei-backed Seres and XPeng, which has led to price cuts for its flagship models and a low price tag for its recently launched premium SUV, the L6. While these moves have helped boost sales volumes, with Li Auto delivering 152,831 vehicles in the quarter, they have also weighed on profitability.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1144977660?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-01 09:31","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1144977660","market":"hk","top_or_hot":-1,"title":"Stock Track | Li Auto Shares Plunge as Q3 Profit Slips on Price Competition","media":"Stock Track","content":"<p>Shares of Chinese electric vehicle maker Li Auto plummeted over 8% on Thursday, after the company reported a slight decline in profit for the third quarter despite higher revenue, as lower selling prices weighed on earnings.</p>\n\n<p>Li Auto said its net profit fell 0.3% to 2.81 billion yuan ($395 million) in the third quarter, despite a 24% increase in revenue to 42.87 billion yuan. The company cited intense price competition and lower average selling prices as factors that pressured its gross margins, which declined to 21.5% from 22% a year earlier.</p>\n\n<p>The Beijing-based EV maker has been facing intense competition from rivals like Huawei-backed Seres and XPeng, which has led to price cuts for its flagship models and a low price tag for its recently launched premium SUV, the L6. While these moves have helped boost sales volumes, with Li Auto delivering 152,831 vehicles in the quarter, they have also weighed on profitability.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Li Auto Shares Plunge as Q3 Profit Slips on Price Competition</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Li Auto Shares Plunge as Q3 Profit Slips on Price Competition\n</h2>\n\n<h4 class=\"meta\">\n\n2024-11-01 09:31 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Chinese electric vehicle maker Li Auto plummeted over 8% on Thursday, after the company reported a slight decline in profit for the third quarter despite higher revenue, as lower selling ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"02015","symbol_name":"理想汽车-W","start_time":0,"source_url":"","article_id":"1144977660","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1144977660","pubTimestamp":1730424693,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Chinese electric vehicle maker Li Auto plummeted over 8% on Thursday, after the company reported a slight decline in profit for the third quarter despite higher revenue, as lower selling prices weighed on earnings.Li Auto said its net profit fell 0.3% to 2.81 billion yuan  in the third quarter, despite a 24% increase in revenue to 42.87 billion yuan. The company cited intense price competition and lower average selling prices as factors that pressured its gross margins, which declined ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"02015":"理想汽车-W"},"translate_title":"股票赛道理想汽车股价暴跌，第三季度利润因价格竞争下滑","themeId":"4c1bd86c4e80299dedb9ceca7e3ec45e","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"02015":1},"content_text":"Shares of Chinese electric vehicle maker Li Auto plummeted over 8% on Thursday, after the company reported a slight decline in profit for the third quarter despite higher revenue, as lower selling prices weighed on earnings.\nLi Auto said its net profit fell 0.3% to 2.81 billion yuan ($395 million) in the third quarter, despite a 24% increase in revenue to 42.87 billion yuan. The company cited intense price competition and lower average selling prices as factors that pressured its gross margins, which declined to 21.5% from 22% a year earlier.\nThe Beijing-based EV maker has been facing intense competition from rivals like Huawei-backed Seres and XPeng, which has led to price cuts for its flagship models and a low price tag for its recently launched premium SUV, the L6. While these moves have helped boost sales volumes, with Li Auto delivering 152,831 vehicles in the quarter, they have also weighed on profitability.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1144977660"}