NIO unveiled the smart electric flagship sedan ET7 and the mid-size smart electric sedan ET5. In 2021, NIO’s systematic competitiveness grew rapidly. As of December 31, 2021, NIO’s vehicle deliveries amounted to 167,070 units in total. So, down to business, what does it all mean for investors? Yu maintained a Buy rating on NIO shares, but to “account for the broader de-rating in growth stocks,” the price target is lowered from $50 to $45. In 2021, NIO delivered 91,429 vehicles, up 109.1 year-on-year and more than quadrupled from 2019. The figure suggests deliveries will double year-over-year. Having launched the ET7 at the end of March, Yu expects the ES7 SUV will be “officially unveiled” later in the month, while 2022 versions of the ES6, EC6, and ES8 - all boasting infotainment system upgrades - should also be revealed.Īll told, Yu has lowered his 2022E deliveries estimate by 10,000 to 160,000, although the analyst keeps his 2023 forecast intact - at 320,000. The good news, though, is that it should represent the “trough” for the year and with the reopening, NIO can “finally get back on track with its product super cycle this year.” All Rights Reserved.However, given the “lower volumes and imbalance within the order book (i.e., orders placed before price hike being fulfilled with components procured at newly elevated levels),” Yu also anticipates gross margins will drop sequentially. However, he expects NIO's gross margin to begin to recover in the third quarter as cost-cutting measures take effect.įor the second quarter, NIO expects revenue to be between 9.34 billion yuan ($1.40 billion) and 10.09 billion yuan, lower than FactSet's 11.65 billion yuan forecast. Rising commodity costs have continued to eat into margins, according to CEO William Bin Li during the company's earnings call. Gross profit for the quarter fell 6.9% year over year to around 1.45 billion yuan ($228.2 million), and net losses for the quarter rose 295.3% from a year earlier to 1.78 billion yuan ($281.2 million). Nio's total deliveries in April and May were just over 12,000 due to Covid-19 shutdowns and supply chain snags. The company expects second-quarter deliveries to range between 23,000 and 25,000 vehicles, implying a particularly strong June. In the first quarter, 25,768 vehicles were delivered, an increase of 28.5% over the same period last year and an increase of 2.9% over the previous quarter.
US-listed shares of Nio, which closed down 7. As of May 31, 2022, cumulative deliveries reached 204,936 vehicles. The EV maker forecasts that deliveries of its vehicles in the quarter ending June 30, will be between 23,000 and 25,000 vehicles, down from 25,768 in the first quarter, reflecting a general drop in production by major automakers as a result of a two-months long Covid-19 lockdown in Shanghai. Vehicle margin slipped to 18.1% from 21.2% a year earlier. NIO delivered 5,074 vehicles in April 2022 and 7,024 vehicles in May 2022. Vehicle sales in the quarter reached 9.24 billion ($1.458 billion), up 24.8% year-over-year, but only up 0.3% quarter-over-quarter. Total revenue for the quarter was $9.9 billion ($1.56 billion), an increase of 24.2% year over year and a 0.1% increase from the fourth quarter of 2021. 25k per month probably as from Q2 2022, which will directly result in a year-over-year increase of around 350 () (versus avg. Any increase depends on the (earlier) finalization of the Hefei capacity increase. The EV maker hopes its margin will start to recover in the third quarter as cost-cutting measures take effect.Ĭhinese electric vehicle maker NIO today announced financial results for the first quarter ended March 31, 2022, with losses rising 295.3% from a year earlier to $281.2 million. Nio deliveries most likely will remain around max. NIO lowers second-quarter revenue prediction, warns rising commodity costs to continue to eat into margins NIO lowers second-quarter revenue prediction, warns rising commodity costs to continue to eat into margins - PingWest English 中文
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