NIO Achieves Record Quarterly Deliveries, Q2 Earnings Exceed Expectations
NIO Inc. reported Q2 2024 revenue of 17.446 billion yuan ($2.4 billion) with record deliveries of 57,373 units, showing a 98.9% year-over-year increase.
autohome · 2024-09-06
NIO Reports Record Quarterly Revenue and Vehicle Deliveries in Q2 2024
NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO), a Chinese leading premium NEV start-up, announced its 2024 second quarter unaudited financial results on September 5th, showing a better-than-expected revenue. The company reported a revenue of 17.446 billion yuan ($2.4006 billion) and a vehicle deliveries of 57,373 units in the second quarter, which reached a record high.
Financial Highlights:
Revenue
Reached 17.446 billion yuan ($2.4006 billion), up 98.9% year-over-year.
Net Loss
Recorded at 5.046 billion yuan ($694.4 million), which is narrowed compared to the same period last year.
Gross Margin
The vehicle gross margin is at 12.2%.
Cash and Cash Equivalents
As of June 30, 2024, NIO's cash reserves stood at 41.6 billion yuan ($5.7 billion).
NIO Top-selling Models
The better-than-expected Q2 earnings is due to NIO’s record high vehicle delivery of 57,373 units, inflecting a 143.9% increase year-over-year and a 90.9% increase quarter-over-quarter.
After a monthly review, we learned that, NIO has achieved continued delivery growth, with 15,620 units delivered in April, 20,544 units in May, and 21,209 units in June.
By examining the top-selling models, the high-end mid-size SUV EC6, ES6, and ET5 have been the biggest contributors to sales, with prices predominantly above RMB300,000, targeting the upscale market segment.
2018 CHERY
TIGGO 3
201971,500kmPetrol
$5,231
2022 VOLKSWAGEN
POLO
202210,000kmPetrol
$9,844
2022 AUDI
Q2L
20233,000kmPetrol
$20,303
2015 GEELY
VISION
201660,000kmPetrol
$1,940
2017 TOYOTA
COROLLA
201867,000kmPetrol
$7,816
2021 VOLKSWAGEN
GOLF
202315,000kmPetrol
$17,512
2015 RENAULT
CAPTUR
201644,200kmPetrol
$7,214
2018 HYUNDAI
IX35
2018120,000kmPetrol
$7,376