(Nio Inc.) Nio Inc. saw a 127.2% year over year jump in revenues to RMB8,448.0 million or $1,308.4 million in the second quarter of 2021.
The jump in revenues was helped by a 111.9% surge in vehicle deliveries which hit 21,896 in the second quarter.
Total vehicle deliveries consisted of 4,433 ES8s, 9,935 ES6s, and 7,528 EC6s.
For the month of July, Nio’s vehicle deliveries grew by 124.5% or 7,931 from the comparable month of 2020.
Vehicle sales margins were 20.3% in the second quarter, up from 9.7% in the comparable quarter of 2020, but down from 21.2% in the first quarter of this year.
Nio’s net losses narrowed to RMB587.2 million or $90.9 million, down by 50.1% from the comparable quarter of 2020, but an increase of 30.2% from the first quarter of this year.
Nio expects to deliver between 23,000 and 25,000 vehicles in the third quarter, up 88.4% to 104.8% from the comparable quarter of 2020.
The company anticipates revenue to rise by 96.9% to 112.8% in the third quarter from the comparable quarter of 2020.
NIO: NYSE is down -0.30% on premarket.
