Here's Why Li Auto And XPeng Shares Are Falling Following Nio's Earnings Report

Li Auto Inc LI and XPeng Inc - ADR XPEV shares are trading lower after peer company Nio Inc - ADR NIO reported fourth-quarter earnings results and issued weak first-quarter guidance.

Nio reported a fourth-quarter EPS loss of 16 cents, which beat the analyst consensus estimate of a loss of 21 cents. Nio also reported fourth-quarter sales of $1.55 billion, which beat the analyst consensus estimate of $1.53 billion.

Nio reported fourth-quarter deliveries of 25,034 vehicles, which is up from 17,353 deliveries in the same period last year. Nio sees first-quarter deliveries of as few as 25,000 or as many as 26,000 vehicles, which would represent deliveries up from 25-30% in the same period last year.

Nio meanwhile issued first-quarter sales guidance with a range between $1.511 billion and $1.567 billion, which is below the $1.66 billion estimate.

See Also: Nio Reports Q4 Beat, Hints At Reacceleration In Growth In 2022

Li Auto designs, develops, manufactures and sells smart electric SUVs.

Li Auto is trading lower by 4.7% at $26.54. Li Auto has a 52-week high of $37.45 and a 52-week low of $15.98.

XPeng is a smart EV company designing, developing, manufacturing and marketing smart electric vehicles in China.

XPeng is trading lower by 7.4% at $27.09. XPeng has a 52-week high of $56.45 and a 52-week low of $18.01.