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XPeng forecasts quarterly revenue above estimates
Nov 19, 2024 9:52 AM

Nov 19 (Reuters) - Chinese electric vehicle maker XPeng ( XPEV )

forecast fourth quarter revenue above Wall Street

estimates on Tuesday, thanks to new car models and improving

domestic market.

XPeng ( XPEV ) is seeing a steady demand for its MONA M03 mid-sized

sedan, having delivered more than 10,000 units for the second

straight month in October.

MONA M03 competes with BYD's Seagull and Dolphin and the

higher-priced Tesla Model 3, and was launched in a bid to grab

market share from BYD, Nio, and Tesla

.

XPeng ( XPEV ) expects fourth quarter revenue between 15.3 billion

yuan and 16.2 billion yuan, compared with analysts' average

estimate of 14.77 billion yuan, according to data 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 Chinese yuan renminbi)

(Reporting by Rishi Kant and Jaspreet Singh in Bengaluru)

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