(Reuters) -Chinese electric vehicle maker XPeng forecast fourth-quarter revenue below estimates on Monday, as a prolonged price war and intensifying competition in the world’s largest auto market threaten to slow its growth.

The company’s U.S.-listed shares, which have more than doubled this year, fell nearly 3% in premarket trading.

The cautious outlook comes despite XPeng and rival NIO posting record deliveries in October, even as Tesla’s China sales slumped to a three-year low. The contrasting performance underscores the uneven impact of a bruising price war that has eroded profitability across China’s crowded EV sector.

XPeng expects fourth-quarter revenue between 21.5 billion yuan ($3.03 billion) and 23 billion yuan, below analysts’ average estimate of 26 billion yuan, according to

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