NIO (NYSE:NIO) traded more than 4% higher in Tuesday’s premarket session after the Chinese electric vehicle maker posted third-quarter results showing improved profitability and robust delivery growth, even though revenue landed slightly below analyst expectations.
For the quarter, NIO reported a loss of RMB1.14 per share, beating forecasts for a RMB1.59 loss. Revenue totaled RMB21.79 billion, just shy of the RMB22.3 billion consensus.
Vehicle delivery momentum remained strong. NIO delivered 87,071 units in Q3 — up 40.8% from a year earlier and 20.8% from the prior quarter. Vehicle sales reached RMB19.20 billion, an increase of 15% year over year and 19% sequentially.
Profitability metrics also improved. Vehicle margin rose to 14.7%, compared with 13.1% in the same quarter last year and 10.3% in Q2. Gross margin climbed to 13.9%, up from 10.7% a year ago and 10% in the previous quarter.
“In the third quarter of 2025, the Company delivered 87,071 smart electric vehicles, representing a year-over-year increase of 40.8%. The strong momentum was driven by the all-around competitiveness of our NIO, ONVO, and FIREFLY brand offerings, which continue to resonate with users across their respective market segments,” said William Bin Li, CEO of NIO.
Looking ahead to Q4, NIO expects revenue in the range of RMB32.76 billion to RMB34 billion, below the RMB34.7 billion consensus.
The company anticipates deliveries of 120,000 to 125,000 vehicles — representing annual growth of roughly 65.1% to 72%.