Nio delivered 50,045 vehicles in the fourth quarter, exceeding the upper end of its previous guidance range of 47,000 to 49,000 vehicles.
Nio (NYSE: NIO) will report unaudited financial results for the fourth quarter and full year of 2023 before the US stock market opens on Tuesday, March 5, the company announced today.
The electric vehicle (EV) maker delivered 50,045 vehicles in the fourth quarter, up 24.95 percent year-on-year, but down 9.72 percent from the third quarter.
Deliveries for the quarter exceeded the upper end of its previous guidance range of 47,000 to 49,000 vehicles.
Nio had previously guided fourth-quarter revenue to be in the range of RMB 16.08 billion ($2.24 billion) to RMB 16.7 billion, implying year-on-year growth of about 0.1 percent to 4.0 percent.
For the full year 2023, Nio delivered 160,038 vehicles, up 30.66 percent year-on-year.
Earlier today, CMB International estimated in a research note that Nio’s net loss for the fourth quarter would be RMB 4.4 billion, narrowing slightly from the third quarter.
Nio’s third-quarter net loss was RMB 4.56 billion, up 10.8 percent year-on-year but down 24.8 percent from the second quarter, according to its earnings report released on December 5.
In the fourth quarter, Nio offered lower discounts than other major brands, CMB International noted, adding that they expect the average selling price of Nio’s vehicles to slip 2 percent from the third quarter to RMB 309,000.
The impact of the decline in selling price is expected to be offset by lower battery costs, and Nio’s vehicle margin is expected to improve by 0.7 percentage points to 11.7 percent in the fourth quarter from the third quarter, according to the team.
Nio management will host an earnings call on March 5 at 7:00 am US Eastern Time (8:00 pm Beijing Time).
For attendees who wish to join the conference using a dial-in number, they can register in advance using the link provided below.
https://s1.c-conf.com/diamondpass/10037213-hg876t.html
A replay of the conference call will be available through March 12, 2024 at the following telephone numbers:
United States: +1-855-883-1031
Hong Kong, China: +852-800-930-639
Chinese mainland: +86-400-1209-216
Singapore: +65-800-1013-223
International: +61-7-3107-6325
Replay PIN: 10037213
($1 = RMB 7.1915)
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