NIO (NIO, Financial) has released its Q1 2025 financial results, showing a total revenue of RMB 12.03 billion, a 21.5% increase year-over-year, but a 38.9% decrease quarter-over-quarter. The net loss was RMB 6.75 billion, increasing 30.2% year-over-year, but reducing 5.1% from the previous quarter. Adjusted net loss was RMB 6.28 billion, up 28.1% year-over-year, but down 5.2% quarter-over-quarter.
In Q1 2025, NIO delivered 42,094 vehicles, a 40.1% year-over-year increase but a 42.1% decrease from the last quarter. April and May deliveries were 23,900 and 23,231 vehicles, respectively. By May 31, 2025, cumulative deliveries reached 760,789 vehicles.
Automotive sales in Q1 were RMB 9.94 billion, up 18.6% year-over-year but down 43.1% quarter-over-quarter. Other sales reached RMB 2.09 billion, growing 37.2% year-over-year but declining 5.9% quarter-over-quarter. The gross profit was RMB 919.6 million with a margin of 7.6%, improving from 4.9% a year ago, but down from 11.7% in the previous quarter.
NIO forecasts Q2 2025 vehicle deliveries between 72,000 and 75,000, with total revenue expected to hit RMB 19.51 billion to RMB 20.07 billion, reflecting an 11.8% to 15.0% year-over-year increase.
