Ideal Motor's third-quarter revenue of 34.68 billion yuan increased by 271.2% over the same period last year, delivering more than 100000 cars.

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! According to CTOnews.com news on November 9, ideal Automobile announced that revenue in the third quarter of 2023 was 34.68 billion yuan, an increase of 271.2 percent over the same period last year, and the market is expected to be 33.641 billion yuan. Revenue is expected to be 38.46 billion yuan to 39.38 billion yuan in the fourth quarter.

The delivery volume and financial performance of ideal car in the third quarter are the best in history. Among them, 105108 vehicles were delivered in the third quarter, an increase of 296.3 percent over the same period last year, and won the top spot in sales of SUV models worth more than 300000 yuan and new energy vehicles worth more than 300000 yuan in this quarter. Strong market demand led to a substantial increase in revenue, with quarterly revenue of 34.68 billion yuan, an increase of 271.2% over the same period last year. In the same period, the operating profit and net profit were 2.34 billion yuan and 2.81 billion yuan respectively, making profits for four consecutive quarters.

The third-quarter gross profit margin of ideal car is 22.0%, which remains healthy. The free cash flow is 13.22 billion yuan, and the cash reserve is 88.52 billion yuan at the end of the third quarter.

CTOnews.com noted that ideal expects delivery of 125000 to 128000 vehicles in the fourth quarter, compared with a market estimate of 112264.