September 5, 2024 - $NIO Inc (NIO.US)$ shares jumped 5.19% to $4.46 in pre-market trading on Thursday. The company today announced its unaudited financial results for the second quarter ended June 30, 2024.
Q2 Highlights
Total revenues were RMB17,446.0 million (US$2,400.6 million) in the second quarter of 2024, representing an increase of 98.9% from the second quarter of 2023 and an increase of 76.1% from the first quarter of 2024.
Gross profit was RMB1,688.7 million (US$232.4 million) in the second quarter of 2024, representing an increase of 1,841.0% from the second quarter of 2023 and an increase of 246.3% from the first quarter of 2024.
Vehicle sales were RMB15,679.6 million (US$2,157.6 million) in the second quarter of 2024, representing an increase of 118.2% from the second quarter of 2023 and an increase of 87.1% from the first quarter of 2024.Vehicle marginii was 12.2% in the second quarter of 2024, compared with 6.2% in the second quarter of 2023 and 9.2% in the first quarter of 2024.
Loss from operations was RMB5,209.3 million (US$716.8 million) in the second quarter of 2024, representing a decrease of 14.2% from the second quarter of 2023 and a decrease of 3.4% from the first quarter of 2024.
Net loss was RMB5,046.0 million (US$694.4 million) in the second quarter of 2024, representing a decrease of 16.7% from the second quarter of 2023 and a decrease of 2.7% from the first quarter of 2024.
Vehicle deliveries were 57,373 in the second quarter of 2024, consisting of 32,562 premium smart electric SUVs and 24,811 premium smart electric sedans, representing an increase of 143.9% from the second quarter of 2023, and an increase of 90.9% from the first quarter of 2024.
Q3 Outlook
Deliveries of vehicles to be between 61,000 and 63,000 units, representing an increase of approximately 10.0% to 13.7% from the same quarter of 2023.
Total revenues to be between RMB19,109 million (US$2,630 million) and RMB19,669 million (US$2,707 million), representing an increase of approximately 0.2% to 3.2% from the same quarter of 2023.
About NIO Inc.
NIO Inc. is a pioneer and a leading company in the global smart electric vehicle market. Founded in November 2014, NIO aspires to shape a sustainable and brighter future with the mission of “Blue Sky Coming”. NIO envisions itself as a user enterprise where innovative technology meets experience excellence. NIO designs, develops, manufactures and sells smart electric vehicles, driving innovations in next-generation core technologies. NIO distinguishes itself through continuous technological breakthroughs and innovations, exceptional products and services, and a community for shared growth. NIO provides premium smart electric vehicles under the NIO brand, and family-oriented smart electric vehicles through the ONVO brand.
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