On the evening of June 6th, NIO released its Q1 2024 report. In the first quarter, NIO achieved a revenue of 9.91 billion yuan; The gross profit margin of the whole vehicle was 9.2%, compared to 5.1% in the same period of 2023, a year-on-year increase of 4.1 percentage points and a month on month decrease of 2.7 percentage points. NIO stated that the main reason for the year-on-year increase in vehicle profit margin is the decrease in unit material costs.
In the first quarter, NIO delivered 30053 vehicles, including 17809 end smart electric SUVs and 12244 end smart electric sedans.
In May, NIO achieved its best monthly delivery performance this year, breaking through 20000 vehicles once again. The financial report shows that the delivery guidelines for the second quarter were 54000 to 56000 vehicles, a year-on-year increase of 129.6% to 138.1%; The revenue guidance was 16.59 billion to 17.14 billion yuan, a year-on-year increase of 89.1% to 95.3%.
Announcement
Li Bin, founder, chairman, and CEO of NIO, said, "In recent months, NIO's delivery volume has steadily increased. In April and May 2024, NIO delivered 15620 and 20544 cars respectively, with year-on-year growth of 134.6% and 233.8%, respectively."
"Our new intelligent electric vehicle brand ONVO and its first product L60 will be launched in May 2024. With ONVO joining our brand lineup, we are preparing to expand into a wider mainstream mass market and enter the next phase of high-quality growth," said Li Bin.
