On Thursday, Nio Inc (NYSE: NIO) issued its unaudited first fiscal quarter results that showed its financials were hurt by promotional activity and the price war Tesla Inc (NASDAQ: TSLA) ignited, as loss widened despite improved margins. But Nio managed to lift the spirits with a more optimistic second quarter outlook. Moreover, it recorded YoY growth in May 2024 deliveries, along with Li Auto (NASDAQ: LI) and XPeng Inc (NYSE: XPEV), but Nio was the only with triple-digit percentage gains, while
NIO reports lower-than-expected first-quarter results and expects second-quarter deliveries in the range of 54,000-56,000 vehicles, implying a rise of 129.6-138.1% year over year.
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