Nio’s latest financial results show it remains heavily loss-making, in part a consequence of a price war in China.

Nio recorded a net loss of RMB 5.4 billion (US$756 million) in Q4 2023, representing a decrease of 7.2% from Q4 2022 and an increase of 17.8% from Q3 of 2023.

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Total revenues for the full-year 2023 were RMB 55.6 billion, with around RMB 49 billion vehicle sales.

Vehicle sales were RMB 15.4 billion (US$2.2 billion) in Q4 2023, representing an increase of 4.6% from the Q4 2022, but a decrease of 11.3% from the Q3 2023.

Vehicle deliveries were 50,045 in Q4 2023, consisting of 33,679 premium smart electric SUVs and 16,366 premium smart electric sedans, representing an increase of 25.0% from the fourth quarter of 2022, and a decrease of 9.7% from the third quarter of 2023.

Total revenues were RMB 17 billion (US$2.5 billion) in the fourth quarter of 2023, representing an increase of 6.5% from the fourth quarter of 2022 and a decrease of 10.3% from the third quarter of 2023.

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