NIO (NIO, Financial) has released its financial results for the third quarter ending September 30, 2024. The company's total revenue reached 18.6735 billion yuan, reflecting a year-over-year decrease of 2.1% but a quarter-over-quarter increase of 7.0%. The net loss expanded to 5.0597 billion yuan, marking an 11.0% increase from the previous year and a slight 0.3% increase from the previous quarter. Adjusted net loss, which excludes the impact of U.S. GAAP, was 4.4126 billion yuan, representing an 11.6% increase year-over-year but a 2.7% decrease quarter-over-quarter.
In terms of operational performance, NIO delivered 61,855 vehicles in the third quarter of 2024. This includes 61,023 vehicles from its premium smart electric vehicle brand, NIO, and 832 vehicles from its family-oriented smart electric vehicle brand, ONVO. This delivery volume signifies an 11.6% growth compared to the same period last year and a 7.8% increase from the previous quarter.
In October 2024, NIO delivered 20,976 vehicles, comprising 16,657 vehicles from the NIO brand and 4,319 vehicles from the ONVO brand. As of October 31, 2024, NIO has delivered a total of 170,257 vehicles for the year, with cumulative deliveries reaching 619,851 vehicles.
