From Financial Modeling Prep: 2024-11-21 06:33:00

Nio (NYSE:NIO) reported a net loss of 5.14 billion yuan in the third quarter, missing analysts’ expectations of a 4.75 billion yuan loss. Revenue fell by 2.1% to 18.67 billion yuan, attributed to lower average selling prices in China’s competitive EV market.

Despite the revenue drop, Nio’s gross margin rose to 10.7% from 8.0% a year earlier, with vehicle margins increasing to 13.1%. Lower material costs per unit helped offset the impact of reduced selling prices, showing signs of improving profitability.

Nio projected deliveries of 72,000 to 75,000 vehicles in the fourth quarter, a 44% to 50% year-over-year growth. Revenue for the quarter was expected to range between 19.68 billion yuan and 20.38 billion yuan, indicating potential growth for the company in the upcoming quarter.



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