NIO's Q3: Flat Net Loss, Improved Margins Amid Revenue Challenges
TL;DR Summary
NIO Inc. reported its unaudited financial results for Q3 2024, with total revenues of RMB18.67 billion (US$2.66 billion) and vehicle deliveries of 61,855 units, marking an 11.6% increase from Q3 2023. Despite a 31.8% rise in gross profit to RMB2.01 billion, the company faced a net loss of RMB5.06 billion (US$721 million), up 11% year-over-year. NIO's vehicle margin improved to 13.1%, and the company anticipates record deliveries in Q4 2024. Recent developments include the launch of the ONVO L60 and strategic investments in NIO China.
- NIO Inc. Reports Unaudited Third Quarter 2024 Financial Results Investor Relations | NIO Inc.
- Nio sees flat net loss, improved gross margin in Q3 CnEVPost
- What's Going On With NIO Stock Following Strong Q3 Results From Top Peer XPeng? Yahoo Finance
- ‘A Wildcard Ahead of Earnings,’ Says Investor About Nio Stock TipRanks
- NIO’s Net Loss Widens on Lower Revenue Amid EV Pricing Pressure The Wall Street Journal
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