The once new forces of Yusanjia - Weilai, Xiaopeng, and Ideal are collectively called "Wei Xiaoli" by the majority of car owners. However, after a full year of development in 2023, the former Yusanjia seems to have embarked on a completely different path . NIO has joined forces with Changan and Geely to create a power swap alliance. Xpeng and Huawei are competing fiercely for the title of China's smartest driving. NIO is enjoying a quiet time and seems to have a bright future, but the three of them seem to have already Fading away.
According to the latest financial report data, NIO achieved strong revenue growth in the third quarter. Its revenue reached 19.067 billion yuan, a year-on-year increase of 46.65% and a month-on-month increase of 117.4%. This performance was mainly attributed to the increase in NIO vehicle deliveries. However, despite strong revenue growth, NIO's net loss still reached 4.557 billion yuan, a year-on-year increase of 10.8%, but a month-on-month decrease of 24.8%. NIO's gross profit margin was 11.0%, an increase of 4.8% month-on-month, but a year-on-year decrease of 5.4%.
Xpeng Motors’ performance in the third quarter was relatively lackluster. Its revenue was 8.53 billion yuan, a year-on-year increase of 25.0% and a month-on-month increase of 68.5%. However, Xpeng Motors' net loss expanded to 3.89 billion yuan, a year-on-year increase of 63.6% and a month-on-month increase of 38.6%. Xpeng Motors' gross profit margin was -6.1%, a year-on-year decrease of 17.7%. This means that Xpeng Motors faces some challenges in selling cars and urgently needs to improve profitability.
Compared with Weilai and Xpeng, Li Auto achieved outstanding results in the third quarter. Its revenue reached 34.68 billion yuan, a year-on-year increase of 271.2% and a month-on-month increase of 21.0%. Li Auto has achieved profitability for four consecutive quarters, with a net profit of 2.81 billion yuan in the third quarter. Li Auto's gross profit margin is 21.1%, which is higher than Tesla and close to BYD's level. Li Auto also performed well in terms of sales, with delivery volume reaching 105,108 vehicles in the third quarter, a year-on-year increase of 296.3%. This makes Li Auto become the company with the highest sales among the "Wei Xiaoli" brands.
The performance of NIO and Li Auto shows their advantages in market competition. NIO emphasized that it will not increase sales through lower gross profit margins and price cuts, but will focus on providing high-quality products and services. Li Auto predicts that its sales will continue to grow and puts forward specific goals. In contrast, Xpeng Motors' net loss increased in the third quarter and its gross profit margin was negative, indicating that Xpeng still faces certain challenges in expanding sales.
In order to cope with market competition and improve performance, Xpeng Motors has carried out a series of changes. The company has carried out reforms in strategic planning, organizational structure adjustment and product research and development. These changes enabled Xpeng Motors' performance in the third quarter to exceed expectations and enter a positive cycle.
In the fiercely competitive new energy vehicle market, Li Auto has shown strong performance, achieving profitability for four consecutive quarters, ahead of Weilai and Xpeng. The company has released sales and revenue forecasts and is confident about future development. Although NIO performed well in terms of sales and revenue, it lagged behind Li Auto. Xpeng Motors has made some progress through strategic changes when facing pressure from expanding losses and declining profitability.
When Yusanjia was born, it led the development of the domestic new energy vehicle market. Although they went in different directions and continued to burn money, they will not stop for the sake of the future market, and the industry will also The past glory of "Wei Xiaoli" is spread.
