NIO has announced that it will release its unaudited financial results for the fourth quarter and full year 2022 on Wednesday, March 1, 2023, before the US markets open. The announcement comes after NIO delivered 40,052 vehicles in the fourth quarter, surpassing the upper end of its revised guidance range that was lowered due to production and supply chain constraints caused by the Omicron coronavirus outbreak in a major Chinese city.
The fourth-quarter deliveries were up by almost 60% from the same period in the previous year, and up by over 26% from the third quarter. NIO had initially guided for 43,000 to 48,000 vehicle deliveries and revenue of RMB17.37 billion to RMB19.23 billion in the fourth quarter, when it announced its third-quarter earnings on November 10, 2022. However, the company revised its guidance downward on December 27, 2022, to 38,500 to 39,500 units due to the aforementioned challenges.
NIO has been a major player in China’s burgeoning EV market, with its sales increasing by almost 34% to 122,486 vehicles in 2022 from 91,429 in the previous year. The company has attributed its success to the launch of new models, such as the EC7 sedan and the ES8 SUV, and its focus on battery technology, which offers longer driving ranges and faster charging times.
As the EV market becomes more competitive, NIO will be hoping to continue its growth trajectory by releasing new models and expanding its production capacity. The financial results for the fourth quarter and full year 2022 will provide insights into the company’s performance and plans for the future. Investors and industry observers will be closely watching these results, which could have an impact on the company’s stock price and the wider EV market.
