(NIO) NIO stock fell more than 6% on Thursday after guiding deliveries of between 23,000 to 25,000 in the second quarter of 2022. The guidance reflected an increase of just 5.0% to 14.2% from the prior year.
The downbeat guidance comes as the electric car maker reported deliveries of 25,768 in the first quarter of 2022, up 28.5% from the prior year. The guidance suggested that NIO will deliver fewer vehicles in the second quarter compared to the first.
NIO’s total vehicle sales were RMB9.244 billion or $1.258 billion in the quarter, up 24.8% year-over-year. The vehicle margin was 18.1%, compared to 21.2% in the prior year and 20.9% in the fourth quarter of 2021.
The EV maker reported a net loss of RMB1.783 billion or $281.2 million in the quarter, an increase of 295.3% from the prior year but 16.8% narrower than the fourth quarter of 2021.
The company reported that its April and May deliveries were 5,074 and 7,024 vehicles, respectively.
NIO also guided a total revenue of between RMB9.34 billion or $1.473 billion in the second quarter of 2022, an increase of 10.6% to 19.4% from the prior year.
NIO: NYSE is down -6.12% in premarket.
