Record-Breaking Revenue and Sales

NIO Inc., a leading Chinese automobile manufacturer, announced a significant 15.2% year-on-year increase in its fourth-quarter revenue for fiscal 2024, reaching 19.7 billion yuan (~$2.7 billion). Despite the impressive revenue growth, the company faced a net loss of 7.1 billion yuan ($974 million), marking a 32.5% increase from the previous year.

Annual Financial Performance

For the entire year, NIO's revenue experienced an 18.2% surge, totaling 65.7 billion yuan ($9 billion). However, the net loss also rose by 8.1% compared to 2023, amounting to 22.4 billion yuan ($3 billion). Sales for the fiscal year 2024 saw an 18.2% increase, reaching 58.2 billion yuan ($8 billion).

Market Leadership and Future Outlook

CEO William Bin Li highlighted the company's achievement of a new delivery record of 221,970 vehicles in 2024, maintaining NIO's leadership in China's BEV market for vehicles priced over RMB300,000 with a 40% market share. Despite these achievements, NIO's shares dropped by 6.16% in US premarket trade.