Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nio. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. ...

Nio's gross profit margins are now similar in size to those of Ford Motor Co.Good news for (new) Nio (NIO -1.63%) stock investors! Yesterday, Nio announced its first-quarter 2024 earnings results, and Nio stock promptly sold off. Shares of the Chinese automaker are down more than 8% since earnings came out. That means that -- as long as you think Nio stock is a buy -- the stock is now selling at a discount.And according to Citigroup analyst Jeff Chung, this is exactly how you should be looking at this news. ...

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nio. The Motley Fool has a disclosure policy.Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. ...

Nio (NYSE:NIO) stock fell Friday after Citi analysts cut their price target on the Chinese electric vehicle (EV) maker by 20% to $8.50 per share from $10.40. However, they maintained their “buy” rating.Today’s slashed price target comes despite relatively strong year-to-date vehicle sales from Nio, alongside the recent inaugural releases of its new Onvo and Firefly models. Indeed, Citi analysts even projected a higher sales volume for 2024 of 227,000 units from 190,000.Unfortunately, Citi lowered its gross ...

NIO Inc. (NIO) incurred a loss per American Depositary Share of 36 cents in the first quarter of 2024, wider than the Zacks Consensus Estimate of a loss of 31 cents. The company had reported a loss of 42 cents in the year-ago quarter.This China-based electric vehicle maker posted revenues of $1.37 billion, which missed the Zacks Consensus Estimate of $1.48 billion and fell 12.2% year over year due to lower delivery volumes.Key DetailsNIO delivered 30,053 vehicles in the first quarter, down 3.2% year over ye ...

After announcing their first quarter 2024 earnings results, shares of NIO Inc. NYSE: NIO are now falling by as much as 7% in the day’s trading session. Despite the negative media surrounding Chinese stocks and some disappointing figures for NIO recently, this event could mark the start of a bottoming for the stock and maybe even a new leg higher.NIO TodayNIONIO$4.90 -0.36 (-6.84%) 52-Week Range$3.61▼$16.18Price Target$7.53Add to WatchlistAutomotive stocks like Tesla Inc. NASDAQ: TSLA have also seen their st ...

M N 7 Jun 2024 CMB International Global Markets | Equity Research | Company Update NIO Inc. (NIO US) Still no sign of turning profitable Target Price US$5.60 Maintain HOLD. Both NIO’s ASP and vehicle GPM missed in 1Q24, while R&D (Previous TP US$6.20) expenses and GPM for other income beat. Although its planned launch time for Up/Downside 6.3% its third brand is earlier than we had expected, we believe management’s GPM Current Price US$5.27 guidance and assumptions for breakeven could be too optimistic. Chi ...

Investment Rating - Maintain HOLD rating with a target price reduction from US$6.20 to US$5.60, based on 1.3x revised FY24E revenue estimates [2][3][6]. Core Insights - NIO's average selling price (ASP) in 1Q24 decreased by RMB12,000 QoQ, falling 2% below prior projections, with further guidance indicating a drop of about RMB23,000 in 2Q24 [3][4]. - Vehicle gross profit margin (GPM) in 1Q24 was approximately 1 percentage point lower than forecasted, while GPM for other income exceeded expectations, resulting in an overall in-line GPM for the quarter [3][4]. - The company reported a net loss of RMB5.3 billion in 1Q24, with net cash decreasing by RMB10 billion QoQ, which was worse than previous projections [3][4]. - Management's breakeven assumptions for NIO and Onvo brands, as well as battery swap operations, are viewed as overly optimistic, particularly in the context of a price war [3][4]. - Projected FY24E sales volume is expected to rise 25% YoY to 0.2 million units, with a revised revenue forecast cut by 5% due to faster-than-expected ASP declines [3][4]. - The forecast for FY24E net loss has been adjusted from RMB17.2 billion to RMB17.8 billion, with expectations of net losses exceeding RMB10 billion in FY25E and FY26E [3][4]. Financial Summary - FY24E revenue is projected at RMB62.04 billion, with a gross profit of RMB4.648 billion and a net loss of RMB17.785 billion [4][11]. - Gross margin is expected to be 7.5% in FY24E, improving to 10.1% by FY26E [4][11]. - Operating profit is forecasted to be a loss of RMB19.268 billion in FY24E, narrowing to a loss of RMB14.376 billion by FY26E [4][11]. Earnings Summary - Revenue growth is projected at 11.5% YoY for FY24E, with further growth of 28.7% and 20.1% expected in FY25E and FY26E respectively [4][11]. - The company has seen a significant decline in gross margin from 10.4% in FY22A to an expected 7.5% in FY24E [4][11]. - Adjusted net profit is projected to improve from a loss of RMB18.475 billion in FY23A to a loss of RMB15.475 billion in FY24E [4][11].

Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China.CNBC | Evelyn ChengBEIJING — Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an earnings call Thursday, at a time when rivals have been increasing their global footprint.The nearly 10-year-old company will also start shipping its lowest-cost brand, Firefly, in the first half of next year, Li said.Nio, which recently received funding from Mid ...

NIO Inc. (NYSE:NIO) Q1 2024 Earnings Conference Call June 6, 2024 8:00 AM ET Company Participants Rui Chen - Head of IR William Li - Founder, Chairman & CEO Steven Feng - CFO Stanley Qu - SVP, Finance Conference Call Participants Tim Hsiao - Morgan Stanley Ming-Hsun Lee - Bank of America Ben Wang - Deutsche Bank Paul Gong - UBS Yuqian Ding - HSBC Cheng Jing - CICC Tina Hou - Goldman Sachs Operator Hello, ladies and gentlemen. Thank you for standing by for NIO Incorporated’s First Quarter 2024 Earnings Confe ...