Globenewswire·2025-03-21 09:30Core Insights - NIO Inc. reported a total revenue of RMB 19,703.4 million (US$ 2,699.4 million) for Q4 2024, marking a 15.2% increase year-over-year and a 5.5% increase quarter-over-quarter [1][18] - The company delivered 72,689 vehicles in Q4 2024, a 45.2% increase from Q4 2023 and a 17.5% increase from Q3 2024 [6][18] - For the full year 2024, total revenues reached RMB 65,731.6 million (US$ 9,005.2 million), representing an 18.2% increase from 2023 [11][18] Financial Highlights for Q4 2024 - Vehicle sales amounted to RMB 17,475.6 million (US$ 2,394.1 million), up 13.2% year-over-year and 4.7% quarter-over-quarter [7][21] - Gross profit for Q4 2024 was RMB 2,308.9 million (US$ 316.3 million), an 80.5% increase from Q4 2023 [7][21] - The net loss for Q4 2024 was RMB 7,111.5 million (US$ 974.3 million), a 32.5% increase from Q4 2023 [27] Financial Highlights for Full Year 2024 - Vehicle sales for the full year were RMB 58,234.1 million (US$ 7,978.0 million), an 18.2% increase from 2023 [11][18] - Gross profit for the full year was RMB 6,492.8 million (US$ 889.5 million), representing a 112.8% increase from the previous year [11][18] - The net loss for the full year was RMB 22,401.7 million (US$ 3,069.0 million), an 8.1% increase from 2023 [27] Operational Highlights - NIO maintained a 40% market share in China's BEV market for vehicles priced over RMB 300,000 in 2024 [15] - The ONVO brand has secured a top-three position in China's BEV SUV market priced between RMB 200,000 and 300,000 [15] - The company plans to introduce more technology-driven products under the NIO brand and expand the ONVO brand's sales volume [16] Recent Developments - NIO completed a strategic investment in NIO China, with an aggregate cash injection of RMB 12.8 billion from both NIO and strategic investors [13] - The company repurchased US$ 378.3 million of its convertible senior notes due 2027 [14] - In January and February 2025, NIO delivered 27,055 vehicles, bringing cumulative deliveries to 698,619 [12]