In Q4 2023, NIO Inc reported a total revenue of approximately CNY 17.1 billion, marking a 6.5% increase year-over-year despite a quarter-over-quarter decline of 10.3%. The company's vehicle deliveries totaled 50,045, improving 25% year-over-year, but revenues from vehicle sales saw a slight decrease due to a changing product mix and seasonality effects.
Management indicated that while the overall business remains under pressure, particularly in margins due to high operational costs, strategic focus on new model launches and battery swapping innovations offers potential for recovery and growth in 2024. With the recent injection of capital from strategic investors amounting to CNY 2.2 billion, the company aims to strengthen its balance sheet and enhance R&D. NIO anticipates delivering between 31,000 and 33,000 vehicles in Q1 2024, positioning itself for a rebound following the traditional low season in January and February.