(Reuters) – Chinese language language electrical vehicle maker XPeng (NYSE:) forecast fourth quarter earnings above Wall Avenue estimates on Tuesday, due to new automotive fashions and enhancing dwelling market.
XPeng is seeing a gradual demand for its MONA M03 mid-sized sedan, having delivered better than 10,000 fashions for the second straight month in October. MONA M03 competes with BYD (SZ:)’s Seagull and Dolphin and the higher-priced Tesla (NASDAQ:) Model 3, and was launched in a bid to grab market share from BYD, Nio (NYSE:), and Tesla.
XPeng expects fourth quarter earnings between 15.3 billion yuan and 16.2 billion yuan, in distinction with analysts’ frequent estimate of 14.77 billion yuan, based mostly on information compiled by LSEG.
Revenue for the third quarter ended Sept. 30 was 10.10 billion yuan ($1.39 billion), beating estimates of 9.77 billion yuan.
($1 = 7.2434 renminbi)
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