Nio delivered 50,045 automobiles within the fourth quarter, exceeding the higher finish of its earlier steerage vary of 47,000 to 49,000 automobiles.
Nio (NYSE: NIO) will report unaudited monetary outcomes for the fourth quarter and full yr of 2023 earlier than the US inventory market opens on Tuesday, March 5, the corporate introduced at this time.
The electrical car (EV) maker delivered 50,045 automobiles within the fourth quarter, up 24.95 p.c year-on-year, however down 9.72 p.c from the third quarter.
Deliveries for the quarter exceeded the higher finish of its earlier steerage vary of 47,000 to 49,000 automobiles.
Nio had beforehand guided fourth-quarter income to be within the vary of RMB 16.08 billion ($2.24 billion) to RMB 16.7 billion, implying year-on-year progress of about 0.1 p.c to 4.0 p.c.
For the total yr 2023, Nio delivered 160,038 automobiles, up 30.66 p.c year-on-year.
Earlier at this time, CMB Worldwide estimated in a analysis word that Nio’s web loss for the fourth quarter could be RMB 4.4 billion, narrowing barely from the third quarter.
Nio’s third-quarter web loss was RMB 4.56 billion, up 10.8 p.c year-on-year however down 24.8 p.c from the second quarter, in line with its earnings report launched on December 5.
Within the fourth quarter, Nio provided decrease reductions than different main manufacturers, CMB Worldwide famous, including that they anticipate the common promoting value of Nio’s automobiles to slide 2 p.c from the third quarter to RMB 309,000.
The influence of the decline in promoting value is anticipated to be offset by decrease battery prices, and Nio’s car margin is anticipated to enhance by 0.7 share factors to 11.7 p.c within the fourth quarter from the third quarter, in line with the staff.
Nio administration will host an earnings name on March 5 at 7:00 am US Japanese Time (8:00 pm Beijing Time).
For attendees who want to be part of the convention utilizing a dial-in quantity, they’ll register upfront utilizing the hyperlink supplied beneath.
https://s1.c-conf.com/diamondpass/10037213-hg876t.html
A replay of the convention name shall be accessible by way of March 12, 2024 on the following phone numbers:
United States: +1-855-883-1031
Hong Kong, China: +852-800-930-639
Chinese language mainland: +86-400-1209-216
Singapore: +65-800-1013-223
Worldwide: +61-7-3107-6325
Replay PIN: 10037213
($1 = RMB 7.1915)
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