NIO Inc. stock was dropping on Friday after the electric vehicle maker reported widening losses and issued soft guidance as it struggles to keep up in a bruising price war.

The Chinese company’s American depositary receipts fell 4.5% to $4.5 in Friday trading.

NIO reported a net loss of 7.12 billion Chinese yuan ($974 million), widening 32.5% from a year ago, on revenue of 19.7 billion yuan ($2.70 billion). Analysts were expecting a loss of $985 million on revenue of $2.79 billion, according to FactSet consensus estimates.

Guidance also looked soft. NIO said it expects to deliver between 41,000 and 43,000 vehicles over the current quarter. It’s predicting revenue of between $1.69 billion and $1.76 billion—the midpoint of those figures is well below the $2.48 billion that analysts were forecasting.

The below-par earnings appeared to be dragging down NIO’s rivals, too. Li Auto slid 1.4%, and XPeng Inc. fell 1.2%.