NIO Inc. (NYSE:NIO) reported its Q1 earnings today, with a loss of RMB2.51 ($0.36) per share, surpassing the Street estimate of an RMB2.63 loss per share. However, the revenue for the quarter amounted to RMB10.68 billion, which was lower than the Street estimate of RMB11.93 billion.
During the quarter, NIO delivered a total of 31,041 vehicles. Nonetheless, vehicle sales of RMB9,224.5 million showed a slight decrease of 0.2% compared to Q1/22 and a substantial decline of 37.5% from the fourth quarter of the same year.
Looking ahead, the company anticipates delivering between 23,000 and 25,000 vehicles in Q2. Revenues are seen in the range of RMB8,742 – RMB9,370 million.