[SINGAPORE] Chinese electric vehicle maker Nio posted a net loss of US$949.6 million for its first quarter of 2025 ended March, representing a 31.1 per cent increase from the year-ago period and a 3.4 per cent decrease from the previous quarter.
This comes despite the group recording higher total revenue for the quarter, at US$1,658.4 million, an increase of 21.5 per cent from the year-ago period, and a decrease of 38.9 per cent from the prior quarter, said the group on Tuesday (Jun 3).
Loss from operations for Q1 rose 19 per cent on the year to US$884.4 million and climbed 6.4 per cent on the quarter.
Net loss was up 30.2 per cent year-on-year and down 5.1 per cent quarter-on-quarter, at US$930.2 million.
Q1 gross profit stood at US$126.7 million, 88.5 per cent higher on the year but 60.2 per cent lower on the quarter.
Gross margin was 7.6 per cent for Q1 of 2025, compared with 4.9 per cent in Q1 of 2024 and 11.7 per cent in Q4 of 2024.
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Vehicle deliveries stood at 42,094 for Q1 2025, up 40.1 per cent on the year but down 42.1 per cent on the quarter.
Vehicle sales came in at US$1,369.7 million, 18.6 per cent higher than Q1 of 2024 but 43.1 per cent lower than Q4 of 2024.
For the second quarter, the group expects vehicle deliveries to be between 72,000 and 75,000 vehicles, representing an increase of around 25.5 per cent to 30.7 per cent from the year-ago quarter.
Total revenues are forecast to stand between US$2,689 million and US$2,765 million, translating to an increase of around 11.8 per cent to 15.0 per cent from Q2 of 2024.
Shares of Nio on the Singapore Exchange ended on Tuesday 0.3 per cent or US$0.01 higher at US$3.53, before the announcement.
