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)