Record Deliveries Fuel Strong Revenue Growth

NIO Third Quarter 2022 Financial Results

Record Deliveries Fuel Strong Revenue Growth

Key Financial Highlights for Q3 2022

• Total revenues reached RMB15.3 billion (USD2.2 billion), a year-over-year increase of 32.6%.
• Vehicle sales revenue was RMB14.9 billion (USD2.1 billion), growing by 33.2% year-over-year.
• Total gross profit reached RMB2.5 billion (USD362.7 million), an increase of 14.5% year-over-year.
• NIO delivered 31,607 vehicles in the third quarter, up by 29.3% year-over-year and a record high.

NIO reported strong financial results for the third quarter of 2022, driven by record vehicle deliveries and continued revenue growth. The company's total revenues for the quarter reached RMB15.3 billion (USD2.2 billion), representing a 32.6% increase compared to the same period in 2021.

Vehicle sales revenue was the primary contributor to NIO's revenue growth, increasing by 33.2% year-over-year to RMB14.9 billion (USD2.1 billion). The increase in vehicle sales revenue was primarily driven by higher vehicle deliveries and higher average selling prices.

NIO's gross profit margin for the third quarter was 16.3%, representing an increase of 1.5 percentage points compared to the same period last year. This improvement in gross profit margin was primarily driven by a favorable product mix and cost control measures.

The company also reported a net loss of RMB1.8 billion (USD257.6 million) for the third quarter, compared to a net loss of RMB2.1 billion (USD301.3 million) in the same period last year. The company attributed the narrower net loss to the strong revenue growth and improved gross profit margin.

NIO's financial results for the third quarter of 2022 demonstrate the company's continued growth and its ability to execute its business strategy. The company's record vehicle deliveries, strong revenue growth, and improved gross profit margin position it well for continued success in the future.