The revenue of Ideal Auto in the first quarter was 25.6 billion yuan, up 36.4% year on year and down 38.6% month on month

Ideal Auto announced its financial results up to the first quarter of 2024. According to the data, the quarterly revenue was 25.6 billion yuan, up 36.4% year on year and down 38.6% month on month. The net profit was 591.1 million yuan, down 36.7% year on year and 89.7% month on month. It is expected that the revenue in the second quarter will be between 29.9 billion yuan and 31.4 billion yuan, and the delivery volume is expected to be between 105000 and 110000 vehicles.

The vehicle sales revenue of Ideal Auto was 24.3 billion yuan, an increase of 32.3% over last year. The increase in revenue is mainly due to the increase in vehicle delivery, but it is also affected by the decrease in average selling price caused by changes in product mix and pricing strategy. In addition, the decrease in delivery in the fourth quarter of last year due to the Spring Festival holiday and insufficient sales orders also had a certain impact on the performance.

In April, Ideals delivered 25787 vehicles, up 0.4% from last year. At present, there are 481 retail centers in 144 cities, 361 after-sales maintenance centers and ideal auto authorized B&P centers in 210 cities, and 386 ideal overcharge stations with 1678 charging posts have been put into use.

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