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Nio’s Revenue by Segment (2018 – 2021)

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This statistic highlights Nio’s Revenue by Segment on a quarterly basis from Q2 2018 onwards, split between Vehicle sales and other sales.
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This statistic highlights Nio’s Revenue by Segment on a quarterly basis from Q2 2018 onwards, split between vehicle sales and other sales.

Nio Inc. is a Chinese multinational automobile company headquartered in Shanghai, specializing in designing and developing electric vehicles. It also manufactures, sells, and leases high-performance fully electric vehicles and energy generation and storage systems, and offers services related to sustainable energy products.

Nio’s Revenue by Segment

Source of Revenue Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Revenue share in Q3 2020
Other sales 0.10 0.16 0.12 0.23 0.26. 6%
Vehicle sales 1.73 2.68 1.25 3.48 4.26 94%
Total 1.83 2.84 1.37 3.71 4.52 100%

(All figures in billions, except percentages)

Other sales

Nio Inc. earned $0.26 billion from other sales during Q3 2020, which was a 13% increase when compared to Q2 2020, where $ 0.23 billion were earned. Further, there was a 160% increase as compared to Q3 2019, where only $0.10 billion were earned. Other sales contribute 6% of the total revenue of the company during Q3 2020.

Vehicle sales

Vehicle sales are the major source of revenue for Nio Inc during Q3 2020 and contribute $4.26 billion, making up about 94% of the total earnings. The revenue during this period saw a growth of 146% as compared to Q3 2019, where $1.73 billion were earned. This also corresponded to a 22% increase compared to Q2 2020, where the company earned $3.48 billion. The significant increase in vehicle sales is driven by renewed buying interest for private cars as consumers reduce their risk of contracting Covid-19 from taking public transport. Another reason for this increase in sales could be China’s plans to further boost sales of new energy vehicles to reduce exhaust emissions and protect the environment.

Despite the COVID-19 pandemic, the data shows that the total revenue of the company has increased from $ 1.83 billion to $4.52 billion, between Q3 2019 and Q3 2020, which is a 147% increase. The revenues are expected to increase further with the company planning to sell its vehicles in other countries such as Norway, USA and UK and with new launches such as ET7  and ET5 sedans in 2021.

The revenue from both other sales and vehicle sales had shown a growth in Q3 2019 and Q4 2019 which was followed by a dip in Q1 2020 and then growth from Q2 2020 to Q3 2020 but the rate of growth is faster in other sales than vehicle sales.

Company Overview

Nio is a public limited company founded by William Li  (Chairman and CEO),  in November 2014. They filed for a $1.8 billion initial public offering(IPO) in September 2018 on the New York Stock Exchange (NYSE). As of 2020, the company employs more than 7,000 people across China, Germany, Hong Kong, United Kingdom and the United States. In late April 2020, the company announced $1 billion in new funding from a group of Chinese investors, which was needed due to the company’s struggles to sell its vehicles.

Nio’s product portfolio consists of the following models:

  • EP9: EP9 is a two-seater sports car, whose deliveries started in 2016. It is the most expensive car in Nio’s product portfolio.
  • ES6: It is a mid-size Sports Utility Vehicle (SUV) that can seat up to five people. Deliveries for this car started in 2019.
  • ES8: ES8  is the biggest car offered by Nio. It is a full-size Sport Utility Vehicle (SUV), that can seat between five and seven people. It was first introduced in 2018.
  • EC6: The five-seater mid-size Crossover, EC6, is Nio’s latest offering. This vehicle was introduced in the market in 2020.

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