NIO: Fourth quarter delivery guidance is 72,000 to 75,000 units, an increase of 43.9% to 49.9% year-on-year

On November 20th, NIO (09866.HK) released its financial results for the third quarter of 2024. NIO delivered 61,855 units in the third quarter, a record high; revenue in the third quarter was 18.67 billion yuan, an increase of 7.0% compared with the previous quarter; vehicle gross margin continued to increase to 13.1%; free cash flow turned positive in the third quarter, and cash reserves rose to 42.20 billion yuan; R & D investment in the third quarter was 3.32 billion yuan. NIO's fourth quarter delivery guidance was 72,000 units to 75,000 units, an increase of 43.9% to 49.9% year-on-year; fourth quarter revenue guidance was 19.68 billion yuan to 20.38 billion yuan, an increase of 15.0% to 19.2% year-on-year.