Li Auto Stock Drops as Q1 Revenue Outlook Lags Estimates | Global News Avenue

Li Auto’s US listed shares (plumOn Friday, Chinese electric vehicle manufacturers expected estimated sales volumes to be about 3% lower in the first quarter.

The company said it expects total revenue to be between 23.4 billion yuan (US$3.2 billion) and 24.7 billion yuan, a year-on-year decrease of 8.7% to 3.5%. Revenues for the quarter were lower than the visible alpha estimate, estimated at RMB 33.5 billion.

In the fourth quarter, Li Auto released adjustments Earnings per share (EPS) In the same period last year, RMB 10.04 (US$1.38) was 10.04 (US$1.38). Total revenue increased by 6.1% year-on-year to RMB 44.3 billion.

The company competes with its local rival Nio in China (Neo), Bidd and Xpeng (XP) and Elon Musk’s Tesla (TSLA). According to Reuters, Chinese electric car manufacturers are trapped in restricted competitors with their competitors. Meanwhile, Tesla is seeking to produce and sell Cheap Based on the version of the Chinese model Y SUV that will start next year from next year Reuters, As U.S. companies struggle to cope with the country’s loss of market share.

Li Auto stock has lost more than a quarter of its value over the past year.