In This Article:
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Total Revenues: RMB19.7 billion, up 15.2% year over year and 5.5% quarter over quarter.
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Vehicle Sales: RMB17.5 billion, increased 13.2% year over year and 4.7% quarter over quarter.
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Other Sales: RMB2.2 billion, grew by 33.8% year over year and 12.7% quarter over quarter.
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Vehicle Margin: 13.1%, compared to 11.9% in Q4 last year.
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Overall Gross Margin: 11.7%, up from 7.5% in Q4 last year.
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R&D Expenses: RMB3.6 billion, decreased 8.5% year over year.
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SG&A Expenses: RMB4.9 billion, up 22.8% year over year.
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Loss from Operations: RMB6 billion, down 8.9% year over year.
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Net Loss: RMB7.1 billion, increased 32.5% year over year.
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Cash and Cash Equivalents: RMB41.9 billion at the end of the quarter.
Release Date: March 21, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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NIO Inc (NYSE:NIO) set a new quarterly record with 72,689 smart EV deliveries in Q4 2024, marking a 38.7% increase year over year.
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The NIO brand secured a 40% market share in China's BEV segment priced above RMB300,000, leading the premium segment.
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NIO's vehicle margin improved to 14.9% in Q4, with overall vehicle margin reaching 13.1%, driven by supply chain optimization and cost control.
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The company launched the NIO ET9, a flagship smart executive sedan, which sold out its first edition of 999 units within hours.
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NIO's global expansion is supported by 183 NIO Houses, 462 NIO Spaces, and 3,245 post-op stations worldwide, enhancing its competitive edge in the BEV market.
Negative Points
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NIO Inc (NYSE:NIO) reported a net loss of RMB7.1 billion in Q4 2024, an increase of 32.5% year over year and 40.6% quarter over quarter.
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The ONVO brand's sales performance did not meet expectations, with brand awareness and sales network maturity cited as challenges.
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Q1 2025 vehicle margin is expected to be under pressure due to seasonality and product transitions, impacting profitability.
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Operating expenses increased, with SG&A expenses up 22.8% year over year, driven by sales and marketing for new brands and products.
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Interest and investment loss amounted to RMB0.2 billion, primarily due to fair value changes in equity investments.
Q & A Highlights
Q: What cost reduction efforts is NIO implementing, and when will these efforts reflect in financial results? A: Bin Li, CEO, explained that NIO has initiated cost reduction efforts since last year, focusing on supply chain and R&D. These efforts have already improved vehicle margins in Q4 2024. Starting Q1 2025, NIO launched a comprehensive cost reduction initiative involving all employees, which is expected to reflect in financial results from Q2 2025 onwards. The company aims to achieve breakeven by Q4 2025.