NIO Inc. Reports Unaudited Full Year 2023 Financial Results
London, 05 March 2024, (Oilandgaspress): – NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in the premium smart electric vehicle market, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023.
Operating Highlights for the Fourth Quarter and Full Year of 2023
Vehicle deliveries were 50,045 in the fourth quarter of 2023, consisting of 33,679 premium smart electric SUVs and 16,366 premium smart electric sedans, representing an increase of 25.0% from the fourth quarter of 2022, and a decrease of 9.7% from the third quarter of 2023.
Vehicle deliveries were 160,038 in 2023, representing an increase of 30.7% from 2022.
| Key Operating Results | |||||
| 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | ||
| Deliveries | 50,045 | 55,432 | 23,520 | 31,041 | |
| 2022 Q4 | 2022 Q3 | 2022 Q2 | 2022 Q1 | ||
| Deliveries | 40,052 | 31,607 | 25,059 | 25,768 | |
Financial Highlights for the Fourth Quarter of 2023
- Vehicle sales were RMB15,438.7 million (US$2,174.5 million) in the fourth quarter of 2023, representing an increase of 4.6% from the fourth quarter of 2022 and a decrease of 11.3% from the third quarter of 2023.
- Vehicle marginii was 11.9% in the fourth quarter of 2023, compared with 6.8% in fourth quarter of 2022 and 11.0% in the third quarter of 2023.
- Total revenues were RMB17,103.2 million (US$2,408.9 million) in the fourth quarter of 2023, representing an increase of 6.5% from the fourth quarter of 2022 and a decrease of 10.3% from the third quarter of 2023.
- Gross profit was RMB1,279.2 million (US$180.2 million) in the fourth quarter of 2023, representing an increase of 105.7% from the fourth quarter of 2022 and a decrease of 16.0% from the third quarter of 2023.
- Gross margin was 7.5% in the fourth quarter of 2023, compared with 3.9% in the fourth quarter of 2022 and 8.0% in the third quarter of 2023.
- Loss from operations was RMB6,625.3 million (US$933.2 million) in the fourth quarter of 2023, representing a decrease of 1.6% from the fourth quarter of 2022 and an increase of 36.8% from the third quarter of 2023. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB6,059.3 million (US$853.4 million) in the fourth quarter of 2023, representing an increase of 0.7% from the fourth quarter of 2022 and an increase of 42.9% from the third quarter of 2023.
- Net loss was RMB5,367.7 million (US$756.0 million) in the fourth quarter of 2023, representing a decrease of 7.2% from the fourth quarter of 2022 and an increase of 17.8% from the third quarter of 2023. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB4,801.7 million (US$676.3 million) in the fourth quarter of 2023, representing a decrease of 5.2% from the fourth quarter of 2022 and an increase of 21.5% from the third quarter of 2023.
- Cash and cash equivalents, restricted cash, short-term investment and long-term time deposits were RMB57.3 billion (US$8.1 billion) as of December 31, 2023.
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