Summary by Moomoo AI
NIO Inc. released unaudited financial performance for Q1 of 2024 on June 6, 2024, showing a delivery volume of 30,053 automobiles, a decrease of 3.2% compared to the same period last year. The sales revenue for automobiles in that quarter was RMB 8.3813 billion, with a gross margin of 9.2% and a net loss of RMB 5.1846 billion. The company emphasized the recognition of its high-end brand positioning and technological innovation in the market, and significant growth in delivery volume in April and May. In addition, NIO's second brand, Lessee Automobile, was launched in May, aiming to enter a wider range of markets. The company expects a significant increase in delivery volume in Q2 of 2024.