the ‘Chinese Tesla’ reassures a little


( — Nio Inc. points slightly in the green before trading on Wall Street. The group has just published mixed quarterly results and fairly cautious guidance. Investors’ major fears about Covid-19 and competition have, however, been partly allayed. The Chinese group listed on Wall Street posted a deficit of 30 cents per ADR over the quarter and revenues of 1.83 billion dollars. The FactSet consensus was 14 cents ADR-adjusted loss for $1.8 billion in revenue. The third quarter net loss was $578 million, while the adjusted loss reached $492 million. The group delivered 31,607 vehicles over the quarter ended, an increase of 29% year-on-year and a sequential increase of 26% compared to the previous quarter.

The group plans for its fourth fiscal quarter revenues housed between 17.368 billion yuan and 19.225 billion yuan, or 2.44 to 2.7 billion dollars. This would represent a nice growth of 75% to 94% year-on-year, but these figures remain below recent market expectations. Nio expects deliveries ranging from 43,000 to 48,000 units in the fourth quarter, up 72 to 92 percent.


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