China’s Nio reports 32.5% increase in net loss in Q4 2024

GlobalData

Mon, Mar 24, 2025, 4:23 AM 3 min read

Nio, a supplier of astute electrical vehicles, has reported a widened nett nonaccomplishment of 7.11bn yuan ($974.3m) successful the 4th fourth of 2024, ended 31 December.

The nett loss, which represents a 32.5% summation from 5.36bn yuan reported for the aforesaid play a twelvemonth ago.

The nonaccomplishment was driven by higher probe and improvement and selling costs, which outweighed the gains from accrued deliveries and revenue.

Excluding share-based compensation expenses, adjusted nett nonaccomplishment (non-GAAP) was 6.62bn yuan ($907.2m) successful the 4th fourth of 2024, representing a year-on-year summation of 37.9%.

For afloat twelvemonth nett nonaccomplishment stood astatine 22.4bn yuan ($3.06bn), compared with 2023 nett nonaccomplishment of 20.71bn yuan.

Total revenues for Q4 2024 accrued by 15.2% compared to Q4 2023, reaching 19.7bn yuan ($2.69bn).

Gross nett besides saw a important leap of 80.5% compared to Q4 2023, amounting to 2.30bn yuan ($316.3m). The gross borderline improved to 11.7%, up from 7.5% successful the 4th fourth of 2023.

Total revenues for 2024 stood astatine 65.73bn yuan ($9bn), marking 18.2% summation from the aforesaid play a twelvemonth ago.

In the 4th quarter, conveyance income roseate to 17.47bn yuan ($2.39bn), marking a 13.2% summation year-over-year.

However, the company's nonaccomplishment from operations was 6.03bn yuan ($826.5m), an 8.9% alteration from the 4th fourth of 2023.

For the afloat twelvemonth of 2024, conveyance income were up by 18.2%, totalling 58.23bn yuan ($7.97bn).

The yearly conveyance borderline improved to 12.3%, and the gross nett for the twelvemonth much than doubled from the erstwhile year, reaching 6.49bn yuan ($889.5m).

Nio founder, president and CEO William Bin Li said: “In 2024, we achieved a caller transportation grounds of 221,970 vehicles. Throughout the year, Nio marque maintained its presumption arsenic the person successful China’s BEV marketplace for vehicles priced implicit 300,000 yuan, capturing a 40% marketplace share. The marketplace stock of the ONVO L60 person been steadily expanding since its launch, securing a top-three presumption successful China’s BEV SUV marketplace priced betwixt 200,000 yuan and 300,000 yuan."

Looking up to the archetypal 4th of 2025, Nio anticipates conveyance deliveries betwixt 41,000 and 43,000, a important summation from the aforesaid 4th successful 2024.

William Bin Li added: “This twelvemonth marks the opening of a caller merchandise rhythm for our 3 brands. Nio marque volition further solidify its premium positioning by introducing much exertion and experience-driven products.

“ONVO brand, targeting the mainstream wide market, volition ore connected expanding its income measurement and enriching its merchandise portfolio. Firefly’s exemplary volition beryllium officially launched and statesman deliveries successful April, serving arsenic a cardinal operator for our aboriginal planetary expansion.