Nio Q1 2024 Earnings: What to Expect on June 6?

Just when you thought Nio couldn’t surprise us anymore, here they come, ready to drop some Q1 earnings bombshells. Buckle up, folks, ’cause Nio is set to report its unaudited financial results on June 6. So, grab your coffee and get ready to dissect those numbers with a fine-tooth comb.

What?

In the first quarter of 2024, Nio played a solid hand by delivering 30,053 vehicles, right on target with its revised guidance. But hey, let’s not get ahead of ourselves – the real show is yet to come when Nio reveals its financial results on June 6.

Why does it matter?

Nio initially aimed to deliver 31,000 to 33,000 vehicles but had to do a quick shuffle and lower the bar to around 30,000. As the first quarter is typically a slow season for China’s auto industry, Nio’s delivery dip was somewhat expected. This decline is likely to reflect in key financial metrics like revenue and gross margin, which are expected to take a hit compared to Q4 of 2023.

Don’t hit the panic button just yet, though. The good news is that the second quarter is on the horizon, and with the entire Chinese auto industry expected to bounce back, Nio’s fortunes could be looking up. In April alone, Nio delivered 15,620 vehicles, showing promising growth potential for the next quarter. Plus, with insurance registrations soaring, things might be looking brighter than they seem.

How is it going to shape the future?

It’s not just Nio in the spotlight – its local competitors Li Auto and Xpeng are also making waves with their first-quarter results. Li Auto brought in RMB 25.6 billion in revenue, while Xpeng exceeded expectations with RMB 6.55 billion. Despite some ups and downs, the overall sentiment in the Chinese EV market seems cautiously optimistic.

As the date with destiny – June 6 – approaches, investors and enthusiasts alike are eagerly awaiting Nio’s Q1 earnings report. Will Nio defy expectations and come out on top, or is there a storm brewing on the horizon? One thing’s for sure – when Nio speaks, the world listens.

So mark your calendars, set your alarms, and get ready for the big reveal on June 6. It’s earnings season, folks, and Nio is about to take center stage once again. Stay tuned – this is going to be one wild ride.

Source: https://cnevpost.com/2024/05/22/nio-to-report-q1-2024-earnings-jun-6/