Nio Inc. has reported a record net loss of RMB 7.11 billion yuan ($974 million) for the fourth quarter, driven by increased selling, general and administrative (SG&A) expenses. The company’s gross margins improved slightly, however.
Revenue for the fourth quarter reached RMB 19.7 billion, a 15.2% year-on-year increase and 5.5% quarter-on-quarter growth. Vehicle sales revenue was RMB 17.48 billion, with deliveries of 72,689 vehicles. This represents a 45.25% year-on-year increase.
However, Nio’s current liabilities exceeded its current assets as of December 31, 2024. Despite this, the company believes it has sufficient funds to support its operations for the next 12 months.
Nio guided that first-quarter deliveries will be between 41,000 and 43,000 vehicles, representing year-on-year growth of about 36.4% to 43.1%. Revenue guidance is between RMB 12.37 billion and RMB 12.86 billion, a 24.8% to 29.8% year-on-year increase.
The company’s net loss was mainly due to the loss from the revaluation of overseas RMB-related assets as a result of the depreciation of the RMB against US dollars in the fourth quarter.
Source: https://cnevpost.com/2025/03/21/nio-earnings-q4-2024