Day: November 17, 2020

improvements

NIO’s Third-Quarter Loss Was Less Than Expected as Cost Improvements Juiced Margins

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Chinese electric-vehicle maker NIO (NYSE:NIO) reported today that it lost less money than expected in the third quarter, as cost improvements helped boost profit margins in a quarter in which NIO sold more vehicles than ever before.

NIO’s net loss for the quarter was $154.2 million, or $0.14 per American depositary share, on total revenue of $666.6 million. That was a significant improvement over its results in the third quarter of 2019, and good enough to beat estimates: Wall Street analysts polled by Thomson Reuters had expected a loss of $0.17 per share on revenue of $653.73 million. 

A blue NIO EC6, a sporty upscale electric crossover SUV.

NIO launched its newest model, the EC6, in September. Image source: NIO.

NIO sold 12,206 of its upscale electric vehicles in the third quarter, its highest-ever quarterly total, as China continued to rebound from the coronavirus outbreak earlier this year and Chinese consumers continued to flock to “new energy vehicles.” At the

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