NIO
NIO Inc
Q2 2024 Report
NIO Inc (NIO) Q2 2024 Financial Results Report: Accelerated Growth & Optimized Margins...
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Executive Summary
NIO Inc's Q3 2024 results reflect a mixed performance amidst significant milestones and strategic shifts. With total revenues of RMB 18.67 billion, NIO experienced a 2.1% decrease year-over-year, while quarter-over-quarter growth was observed at 7.0%. Vehicle deliveries reached a record 61,855 units, establishing NIO as a leader in China's premium battery electric vehicle sector with a 48% market share in the high-end segment. Despite these achievements, the company reported a net loss of RMB 5.14 billion, primarily attributed to increased operating expenses and foreign exchange pressures. Management remains optimistic about future profitability, projecting a vehicle margin of 15% for upcoming quarters, driven by reduced material costs and strategic brand positioning.
Key Performance Indicators
Revenue
18.67B
QoQ: 7.04% | YoY:-2.06%
Gross Profit
2.01B
10.75% margin
QoQ: 18.87% | YoY:31.78%
Operating Income
-5.24B
QoQ: -0.55% | YoY:-8.13%
Net Income
-5.14B
QoQ: -0.30% | YoY:-11.08%
EPS
-2.50
QoQ: 0.00% | YoY:6.37%
Revenue Trend
Margin Analysis
Key Insights
- **Revenue**: RMB 18.67 billion (YoY -2.1%, QoQ +7.0%)
- **Gross Profit**: RMB 2.01 billion (YoY +31.8%, QoQ +18.9%)
- **Net Loss**: RMB 5.14 billion (YoY -11.1%, QoQ -0.3%)
- **Vehicle Deliveries**: 61,855 units (record, implies growth in market share)
- **Vehicle Margin**: 13.1% (up from 11% YoY and 12.2% QoQ)