U.S. Stock Market Update | New Energy Vehicle Stocks Decline, Tesla Falls Over 1.6%

On Monday, the new energy vehicle stocks fell. As of the time of publication, Li Auto dropped more than 13%, Nio dropped more than 2.4%, Tesla dropped more than 1.6%, and XPeng dropped nearly 1%. In terms of news, Li Auto released its latest quarterly performance. In Q1 2024, the total revenue was 25.6 billion RMB, a year-on-year increase of 36.4%; the net profit was 591 million RMB, a year-on-year decrease of 36.7%; the adjusted net profit was 1.3 billion RMB, a year-on-year decrease of 9.7%; Li Auto expects to deliver between 105,000 and 110,000 vehicles in the second quarter; Li Auto expects revenue in the second quarter to be between 29.9 billion RMB and 31.4 billion RMB