NIO Inc. Provides December, Fourth Quarter and Full Year 2023 Delivery Update

Rhea-AI Summary

NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) delivered 18,012 vehicles in December 2023, a 13.9% year-over-year increase. In the three months ended December 2023, NIO delivered 50,045 vehicles, a 25.0% year-over-year increase. In 2023, NIO delivered a total of 160,038 vehicles, showing a 30.7% year-over-year increase. Cumulative deliveries of NIO vehicles reached 449,594 as of December 31, 2023. NIO also launched the ET9, a smart electric executive flagship, at NIO Day 2023, with deliveries expected to start in the first quarter of 2025.

Market Research Analyst

The reported increase in vehicle deliveries by NIO represents a significant growth trajectory for the company, indicative of its strengthening position in the premium electric vehicle (EV) market. The year-over-year growth figures, particularly the 30.7% increase in annual deliveries, suggest a robust demand for NIO's product offerings. This performance could be a positive signal to investors, as it reflects the company's ability to scale production and meet market demand despite potential challenges such as supply chain disruptions and competition.

Moreover, the introduction of the ET9, an executive flagship model, marks NIO's commitment to innovation and may serve to enhance the brand's prestige and appeal in the high-end market segment. However, the expected delivery date in the first quarter of 2025 indicates a long lead time, which could impact the immediacy of the financial benefits from this launch. Stakeholders should monitor the company's progress in executing its production plans and managing pre-orders to assess the potential market impact of the ET9.

Financial Analyst

From a financial perspective, the reported delivery numbers are a critical metric for evaluating NIO's revenue growth potential. The consistent increase in deliveries is likely to translate into higher sales revenue, which could improve the company's financial health and investment attractiveness. The cumulative delivery figure nearing half a million units is a testament to NIO's market penetration and brand establishment.

However, investors should also consider the capital expenditures associated with scaling up production and the research and development costs for new models like the ET9. The balance between these expenditures and the generated revenue will be crucial in determining NIO's profitability trajectory. Additionally, the automotive industry's cyclical nature and the competitive landscape of EVs require a careful analysis of NIO's strategic positioning and its ability to maintain growth momentum in the face of potential economic downturns or shifts in consumer preferences.

Automotive Industry Analyst

NIO's growth in vehicle deliveries, especially the 25% increase in the fourth quarter, is a strong indicator of the company's competitive edge in the premium smart electric vehicle sector. The specific mention of premium smart electric SUVs and sedans in the delivery breakdown highlights the company's focus on these segments, which are increasingly popular among consumers seeking luxury and technology-driven features.

The announcement of the ET9 flagship model is strategically timed to keep consumer and investor interest piqued. However, the two-year gap before deliveries begin could be a double-edged sword, as it builds anticipation but also allows competitors time to respond with rival offerings. The long-term success of the ET9 will depend on NIO's ability to maintain technological leadership and deliver a product that aligns with consumer expectations at the time of its release.

• NIO delivered 18,012 vehicles in December 2023, increasing by 13.9% year-over-year
  
• NIO delivered 50,045 vehicles in the three months ended December 2023, increasing by 25.0% year-over-year
• NIO delivered 160,038 vehicles in 2023 in total, increasing by 30.7% year-over-year
• Cumulative deliveries of NIO vehicles reached 449,594 as of December 31, 2023

SHANGHAI, China, Jan. 01, 2024 (GLOBE NEWSWIRE) -- NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in the premium smart electric vehicle market, today announced its December, fourth quarter and full year 2023 delivery results.

NIO delivered 18,012 vehicles in December 2023, increasing by 13.9% year-over-year. The deliveries consisted of 12,048 premium smart electric SUVs, and 5,964 premium smart electric sedans. NIO delivered 50,045 vehicles in the fourth quarter of 2023, representing an increase of 25.0% year-over-year. For the year of 2023, NIO delivered a total of 160,038 vehicles, showing a year-over-year increase of 30.7%. Cumulative deliveries of NIO vehicles reached 449,594 as of December 31, 2023.

At NIO Day 2023, NIO launched the ET9, a smart electric executive flagship. The ET9 embodies NIO’s latest advancements in technological research and development, presenting a combination of flagship-style exterior, innovative executive space, leading driving and riding experience, intelligent technologies, efficient power solutions, and comprehensive safety standards. The ET9 is an epitome of NIO’s innovative technologies, setting a new technological benchmark for smart electric vehicles executive flagship. Deliveries of the ET9 is expected to start in the first quarter of 2025.

About NIO Inc.
NIO Inc. is a pioneer and a leading company in the premium smart electric vehicle market. Founded in November 2014, NIO’s mission is to shape a joyful lifestyle. NIO aims to build a community starting with smart electric vehicles to share joy and grow together with users. NIO designs, develops, jointly manufactures and sells premium smart electric vehicles, driving innovations in next-generation technologies in autonomous driving, digital technologies, electric powertrains and batteries. NIO differentiates itself through its continuous technological breakthroughs and innovations, such as its industry-leading battery swapping technologies, Battery as a Service, or BaaS, as well as its proprietary autonomous driving technologies and Autonomous Driving as a Service, or ADaaS. NIO’s product portfolio consists of the ES8, a six-seater smart electric flagship SUV, the ES7 (or the EL7), a mid-large five-seater smart electric SUV, the ES6 (or the EL6), a five-seater all-round smart electric SUV, the EC7, a five-seater smart electric flagship coupe SUV, the EC6, a five-seater smart electric coupe SUV, the ET9, a smart electric executive flagship, the ET7, a smart electric flagship sedan, the ET5, a mid-size smart electric sedan, and the ET5T, a smart electric tourer.

Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. NIO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements, circulars or other publications made on the websites of each of The Stock Exchange of Hong Kong Limited (the “SEHK”) and the Singapore Exchange Securities Trading Limited (the “SGX-ST”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about NIO’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIO’s strategies; NIO’s future business development, financial condition and results of operations; NIO’s ability to develop and manufacture a car of sufficient quality and appeal to customers on schedule and on a large scale; its ability to ensure and expand manufacturing capacities including establishing and maintaining partnerships with third parties; its ability to provide convenient and comprehensive power solutions to its customers; the viability, growth potential and prospects of the newly introduced BaaS and ADaaS; its ability to improve the technologies or develop alternative technologies in meeting evolving market demand and industry development; NIO’s ability to satisfy the mandated safety standards relating to motor vehicles; its ability to secure supply of raw materials or other components used in its vehicles; its ability to secure sufficient reservations and sales of its vehicles; its ability to control costs associated with its operations; its ability to build the NIO brand; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIO’s filings with the SEC and the announcements and filings on the websites of each of the SEHK and SGX-ST. All information provided in this press release is as of the date of this press release, and NIO does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please visit: http://ir.nio.com

Investor Relations
ir@nio.com

Media Relations
global.press@nio.com

How many vehicles did NIO deliver in December 2023?

NIO delivered 18,012 vehicles in December 2023, a 13.9% year-over-year increase.

What is the total number of vehicles NIO delivered in 2023?

In 2023, NIO delivered a total of 160,038 vehicles, showing a 30.7% year-over-year increase.

What is the name of NIO's latest smart electric executive flagship?

NIO's latest smart electric executive flagship is the ET9, which was launched at NIO Day 2023.

When are deliveries of the ET9 expected to start?

Deliveries of the ET9 are expected to start in the first quarter of 2025.