NIO (NIO) delivered strong top-line growth in Q4, with total revenue reaching roughly RMB87.5B for the quarter, supported by higher deliveries and a richer mix of newer models. Vehicle sales were up 65% quarter-over-quarter and were 81% higher than a year ago. Gross profit improved to about RMB11.9B, and gross margin expanded meaningfully versus the prior year, reflecting better vehicle margins and cost-down initiatives.
Notably, the Chinese electric vehicle maker company swung to an operating profit for the first time, with non-GAAP of RMB1.25B. Management highlighted that these Q4 results marked an inflection point from the heavy losses seen in Q4 2024, driven by volume leverage, product mix, and tighter operating expense control.
The company delivered 27,182 vehicles and 20,797 vehicles in January and February, respectively. As of February 28, the company had delivered 47,979 vehicles in 2026, with cumulative deliveries reaching 1,045,571.
“In 2026, we will continue to enhance operational efficiency and optimize cost and deliver stronger, more sustainable performance for our users, partners, and shareholders,” stated NIO (NIO) CFO Stanley Yu Qu. Nio (NIO) expected total deliveries in Q1 to be in the 80K and 83K unit range, representing a year-over-year increase of 90.1% to 97.2%.
Shares of NIO (NIO) rallied 5.3% in premarket trading on Tuesday. XPeng (XPEV) tracked 0.8% higher, while Li Auto (LI) was off 0.4%.