EV maker NIO stumbles as lower prices hit Q2
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 29 August 2023
⏱️ 6 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb
Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.
Show Notes
NIO in charts: Q2 deliveries disappoint amid shift in market preference to Sedans from SUVs
Jefferies picks a baker's dozen of top small and midcap stocks
AT&T, Verizon get rating upgrades at Citi
Best Buy gains after posting better-than-feared Q2 earnings report
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to Seeking Office Wall Street Lunch. |
| 0:04.0 | Our afternoon update on today's market action news and analysis. |
| 0:08.0 | Good afternoon. Today is Tuesday, August 29th, and I'm your host, Kim Khan. |
| 0:14.1 | Our top story so far. |
| 0:16.0 | Evie Maker Neo fell after the Chinese company posted a slightly larger loss than a year ago. |
| 0:21.5 | While Neo delivered 23,520 vehicles during the quarter, lower |
| 0:25.9 | average selling prices impacted results. Vehicle sales were down 22% from the |
| 0:30.8 | sequential first quarter and 25% from a year ago, due primarily to lower |
| 0:35.8 | average selling prices and decreases in delivery volume. |
| 0:39.5 | Gross profit was down 93.5% year over year to 87 million Redmond B in the quarter. |
| 0:45.0 | Vehicle margin with 6.2% compared with 16.7% a year ago and 5.1% in Q1 of 2023. |
| 0:54.0 | CFO Stephen Wai Thang said the closing of the equity investment from |
| 0:57.8 | CYVM entities will further strengthen the company's balance sheet |
| 1:01.4 | and power continuous endeavors in accelerating business growth. |
| 1:05.0 | Looking ahead, Neo expects total revenue of between 18.9 billion Renmin B to 19.52 billion versus 18.03 billion consensus. |
| 1:15.2 | Delivery is between 55,000 and 57,000 vehicles is also anticipated. |
| 1:20.1 | You can dig deeper into deliveries with our Neo and Chart Story on Seeking Alpha. |
| 1:25.0 | There'll be a link in the show notes. |
| 1:26.8 | In today's trading, stocks are higher after getting a shot in the arm from the June Jolts |
| 1:30.5 | report. |
| 1:31.5 | Job openings unexpectedly fell to 8.827 million the first time since |
| 1:36.5 | they've been below 9 million since March 2021. Some slack of the labor market was |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Seeking Alpha, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Seeking Alpha and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.