Chinese EV maker NIO's Q3 revenue rises as deliveries increase
Overview
NIO Q3 2025 total revenues rise 16.7% yr/yr, driven by 40.8% increase in deliveries
Company reports improved gross margin of 13.9% in Q3 2025, up from 10.7% last year
Adjusted net loss in Q3 2025 decreases 38% yr/yr, reflecting operational improvements
Outlook
Company expects Q4 2025 deliveries between 120,000 and 125,000 vehicles
NIO forecasts Q4 2025 revenues between RMB32,758 mln and RMB34,039 mln
Result Drivers
VEHICLE DELIVERIES - NIO's Q3 2025 deliveries increased 40.8% yr/yr, driven by demand for NIO, ONVO, and FIREFLY brands
MARGIN IMPROVEMENT - Vehicle margin improved to 14.7% in Q3 2025, attributed to decreased material costs per unit
COST REDUCTION - Gross margin improved to 13.9% in Q3 2025 due to cost reduction and efficiency improvements
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Total revenues |
| RMB 21.79 bln |
|
Q3 Adjusted Net Income |
| -RMB 2.74 bln |
|
Q3 Net Income |
| -RMB 3.48 bln |
|
Q3 Gross Margin |
| 13.9% |
|
Q3 Adjusted Operating Income |
| -RMB 2.78 bln |
|
Q3 Gross Profit |
| RMB 3.02 bln |
|
Q3 Operating Income |
| -RMB 3.52 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 12 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the auto & truck manufacturers peer group is "buy"
Wall Street's median 12-month price target for NIO Inc is $7.00, about 17.9% above its November 24 closing price of $5.75
Press Release: ID:nGNX1969R
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
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