From Nasdaq: 2024-11-18 09:37:00

NIO Inc., a China-based EV company, is set to release its third-quarter 2024 results, with a projected loss of 32 cents per share on revenues of $2.7 billion. Analysts expect a year-over-year improvement of 13.5% in earnings and 3.4% growth in revenues for the quarter.

NIO delivered a record 61,855 vehicles in Q3, marking an 11.6% increase year-over-year. The launch of the more affordable ONVO brand with the L60 model aims to challenge Tesla’s market share in China. Revenues are expected to benefit from increased deliveries but may face pricing pressure due to EV competition.

Despite operational inefficiencies, NIO is optimizing costs and aiming for a 15% vehicle margin by the end of 2024. The company’s stock performance has declined by 50.5% year-to-date, underperforming the industry. NIO’s forward sales multiple is lower than the industry median, offering a potential buying opportunity.

NIO’s innovative lineup and growth initiatives position it well in the EV market. The company aims to accelerate delivery growth, expand its battery swap stations, and enhance infrastructure. A recent investment in NIO China will bolster financial stability and technological capabilities, supporting long-term growth prospects.

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Read more at Nasdaq: Things to Note Ahead of NIO’s Q3 Earnings: Is the Stock a Buy Now?