Hybrid manufacturer Lixiang reported losses to the company

Li Auto reported an adjusted net loss of 359.7 million yuan (approximately $50.5 million). This did not meet market expectations, Wallstreet-online reported on November 27.

The company's revenue fell by 36% compared to the same period last year, which is equivalent to $3.8 billion. Wall Street analysts had expected adjusted net income of $115.7 million on revenue of $3.7 billion.

Since the beginning of the year, Li Auto has lost about 24% of its value, and over the past 12 months, its shares have fallen by 18%. The continued decline in sales is seriously affecting the company, analysts say. If in the third quarter of 2024 the company sold about 153 thousand cars, then in the same period of this year the figure decreased to 93,211 units.

Li Auto expects to sell 100-110 thousand vehicles in the fourth quarter. Revenue is projected to range from $3.7 billion to 4.1 billion, well below Wall Street's average estimate of $5.1 billion.

The performance of Li Auto, in addition to a significant reduction in car supplies, was affected by the recall of Li Mega MPV minivans. Investors are hoping for an improvement in the sales situation, but competition in the Chinese electric vehicle market is becoming increasingly fierce. The coming months will show whether Li Auto will be able to turn the situation around or continue to lose market share, analysts said.

Hacker for Lisyan: experts talked about the vulnerability of cars

Measures to improve cybersecurity of cars were discussed during the Transport Week

On November 11, Sergey Tselikov, director of the Autostat analytical agency, spoke about record sales of plug-in hybrid vehicles (PHEV) in Russia. In mid-autumn, 6,292 plug-in hybrid vehicles were sold in Russia, which is 54% more than in October last year. The Voyah brand (1,572 units) became the leader of the benzoelectric segment. Lixiang (1,437 units) moved to the second place.

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