Nio Inc (NYSE:NIO) reported better-than-expected results for its third quarter and issued strong sales outlook for the current quarter.
The Shanghai-based NIO, a pioneer in China’s premium smart electric vehicle market, today announced deliveries of vehicles were 12,206 in the third quarter of 2020, including 8,660 ES6s, 3,530 ES8s and 16 EC6s, compared with 4,799 vehicles delivered in the third quarter of 2019 and 10,331 vehicles delivered in the second quarter of 2020.
Vehicle sales proved RMB 4,266.8 million ($628.4 million U.S.) in the third quarter of 2020, representing an increase of 146.1% from the third quarter of 2019 and an increase of 22.4% from the second quarter of 2020.
Total revenues were RMB 4,526.0 million ($666.6 million U.S.) in the third quarter of 2020, representing an increase of 146.4% from the third quarter of 2019 and an increase of 21.7% from the second quarter of 2020.
Net loss was RMB 1,047.0 million ($154.2 million U.S.) in the third quarter of 2020, representing a decrease of 58.5% from the third quarter of 2019 and a decrease of 11.0% from the second quarter of 2020.
Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB 997.8 million ($147.0 million U.S.) in the third quarter of 2020, representing a decrease of 59.3% from the third quarter of 2019 and a decrease of 11.8% from the second quarter of 2020.
NIO shares dumped $2.73, or 5.9%, to $43.90.
