Chinese EV maker NIO's Q3 revenue rises as deliveries increase

NIO

25/11/2025 10:21

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

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)