Nio Inc. (NYSE:NIO) saw its shares slide over 6% in the US premarket on Friday after reporting worse-than-expected fourth-quarter results and disappointing guidance for the current quarter.
The Chinese electric vehicle maker reported a fourth-quarter loss of RMB3.17 per share, missing analyst expectations. Revenue for the period was RMB19.7 billion, also falling short of consensus estimates.
Despite this, Nio delivered 72,689 vehicles during the quarter, a 45% increase from the prior year. Vehicle sales reached RMB17.48 billion, up 13% year over year, and margins improved to 13.1%.
The company’s CEO, William Bin Li, stated that Nio achieved a new delivery record of 221,970 vehicles in 2024 and maintained its position as leader in China’s BEV market for high-end vehicles.
However, Nio guided revenue for the first quarter at RMB12.37 billion to RMB12.86 billion, far short of estimates. The company also expects to deliver between 41,000 and 43,000 vehicles, significantly lower than estimated sales of 65,052.
Source: https://finance.yahoo.com/news/nio-stock-tumbles-fourth-quarter-104208618.html